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Abu Dhabi-based Aldar Properties (Aldar) has entered a 5-year agreement with Emirates Water and Electricity Company (EWEC) to power the real estate developer's owned and managed operating assets with EWEC's clean energy sources.
Aldar said in a statement that the move aims to promote the adoption of clean energy and support the expansion of decarbonisation in the real estate sector.
TIt said the agreement would help reduce Scope 2 emissions associated with the purchase of electricity from the grid, which currently represents the largest source of greenhouse gas emissions at the developer's real estate assets.
The clean energy, which will be supplied to Aldar's assets from EWEC's clean energy sources, will be validated via Clean Energy Certificates registered by EWEC.
Aldar's Chief Financial and Sustainability Officer, Greg Fewer, said: "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."
Francois Brice, Commercial Executive Director at EWEC, added that Aldar is the first real estate development, management, and investment company to participate in the Clean Energy Certificates scheme, "taking the lead on reaching Zero Carbon by certifying the origin of the power
consumed from the grid."
Last week, Zawya Projects had reported that Aldar is targeting $11 million in annual energy savings by reducing its energy consumption by approximately 20 percent across 80 assets, including hotels, schools, commercial, leisure, retail, and residential buildings.
