ALDAR PARTNERS WITH YELLOW DOOR ENERGY TO PROVIDE 34 MEGAWATTS OF SOLAR POWER TO PROPERTIES IN THE UAE

Starting in 2024, the partnership will deliver clean energy to 45 Aldar properties for 20 years
Transition to solar power will remove 23,000 tonnes of carbon dioxide (CO2) emissions being released in the first year of the project, supporting Aldar’s Net Zero Plan
Over the entire lifetime of the project, over 560,000 tonnes of CO2 will be avoided

Abu Dhabi, UAE – 19 December 2023: Aldar Properties PJSC (“Aldar”) has partnered with Yellow Door Energy, a leading sustainable energy organisation, to bring solar power to 45 properties across the UAE, supporting the UAE Net Zero by 2050 Strategic Initiative and Abu Dhabi’s 2030 Energy Strategy.

The partnership between Aldar and Yellow Door Energy was formalised on the sidelines of COP28, signed by Salwa Al Maflahi, Aldar’s Director of Sustainability and Community Outreach and Rory McCarthy, Chief Operating Officer of Yellow Door Energy.

This transition to solar power will prioritise the use of on-site clean energy generation as part of Aldar’s Net Zero Plan, a commitment launched in January 2023 to decarbonise its business and assets by 2050. To significantly reduce Aldar’s operational carbon footprint requires a successful energy transition based on cross-sector collaboration and responsible investing to create long-term value.

The solar systems used as part of this project will be financed, designed, built, operated, and maintained by Yellow Door Energy across 45 of Aldar’s assets in retail, education, and hospitality for the next 20 years. Using rooftop, carport, and ground-mount solar photovoltaic (PV) applications, the clean energy systems have a capacity of 34 megawatts, contributing to cost savings and operational resiliency.

The transition to solar, which will begin in 2024, will reduce 23,000 tonnes of carbon dioxide (CO2) emissions in its first year, facilitating a 12% reduction in Aldar’s Scope 2 greenhouse gas emissions related to purchased electricity of the assets against its 2022 baseline. Over the entire lifetime of the project, more than 560,000 tonnes of CO2 will be avoided. Overall, Aldar’s average clean energy consumption will increase by 12% across the whole portfolio with selected assets benefiting from up to 25%.

Salwa Al Maflahi, Aldar’s Director of Sustainability and Community Outreach, said: “The real estate sector plays a critical role in transitioning the power used in properties to be more sustainable. By harnessing solar, one of the UAE’s natural resources, our partnership with Yellow Door Energy supports this transition while also reducing energy costs and fostering energy technology in the UAE. At Aldar, we continue to find ways to progress towards our net zero ambition and promote greener places”.

“I am honoured to announce my support for Aldar on this part of its sustainability journey towards Net Zero during COP28,” said Rory McCarthy, Chief Operating Officer of Yellow Door Energy. “For close to a decade, Yellow Door Energy has been helping leading UAE businesses reduce their energy costs and progress towards their sustainability goals, all without any of their capital investment. At COP28, I’m excited to see motion translated into action, and today’s signing ceremony with Aldar showcases our commitment to unite, act and deliver.”

In line with the UAE Energy Strategy 2050 to triple the contribution of the renewable energy, Aldar is committed to use renewable energy in its developments such as The Sustainable City in Yas Island which will be powered by clean renewable energy. The residential development will include solar panels embedded on all parking structures and measures within the community to help reduce carbon emissions, water consumption, energy usage, and waste.

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