UAE’s Aldar signs agreement with EWEC to promote clean energy adoption

UAE’s Aldar Properties has entered into a clean energy agreement with Emirates Water and Electricity Company (EWEC).

Through the agreement, 100 per cent of Aldar’s owned and managed operating assets will be powered by EWEC’s clean energy sources for up to five years, official news agency WAM reported.

The initiative aims to promote the adoption of clean energy and support the expansion of decarbonisation in the real estate sector.

At present, scope 2 emissions, associated with the purchase of electricity from the grid, represent the largest source of greenhouse gas emissions at Aldar’s real estate assets. The agreement will reduce the emissions and support decarbonisation across the company’s portfolio, a statement said.

The clean energy supplied to Aldar’s assets from EWEC will be validated via Clean Energy Certificates registered by the latter, a scheme launched by the Abu Dhabi Department of Energy to enable companies in the emirate to validate claims of producing and consuming renewable or clean electricity.

Greg Fewer, chief financial and sustainability officer, commented: “There has never been a time more critical for the corporate community to acknowledge the impact that real estate assets have on the environment. Buildings account for 37 per cent of today’s global CO2 emissions when both operational emissions and embodied emissions of materials are taken into account. It is evident that sustainable buildings are one of the most effective means of tackling this global challenge and we are proud to make this milestone move with EWEC as our partner.”

“We are really excited to see key Abu Dhabi companies such as Aldar taking the lead on reaching zero carbon by certifying the origin of the power consumed from the grid through the clean energy certificate scheme, joining other major energy, industrial, healthcare, and commercial entities taking positive action to reduce carbon emissions,” added Francois Brice, commercial executive director at EWEC. “Aldar moved swiftly to participate in the scheme, becoming the first real estate development, management and investment company and one of the larger market participants.”

Aldar Properties also launched a portfolio-wide energy management project earlier this month to reduce its energy consumption by approximately 20 per cent across 80 assets including hotels, schools, commercial, leisure, retail, and residential buildings.

Read: UAE’s Aldar to reduce carbon emissions by 80,000 tons annually across assets

In other news, Aldar Properties has entered into an agreement with Diamond Developers, to form a JV for the development of The Sustainable City – Yas Island.

Read: Aldar to develop Dhs1.8bn The Sustainable City – Yas Island project in Abu Dhabi