Aldar to cut energy consumption by investing $6.8 million
In 13 residential neighbourhoods, Aldar Properties will invest AED25 million ($6.8 million) in energy-retrofit projects, which have the potential to save AED12 million ($3.27 million) and 19,000 tonnes of carbon dioxide emissions annually.
According to a filing with the Abu Dhabi Securities Exchange by the business, the projects will be carried out in 13 residential neighbourhoods (ADX). It is a component of the large-scale energy management project for the entire portfolio that was unveiled in early 2022.
According to reports, the investment is a first for an Abu Dhabi developer. The corporation attempts to improve efficiency across a variety of Aldar hotels, schools, commercial, recreational, retail, and residential facilities as part of its efforts to make its communities more energy efficient and environmentally friendly. Owners and tenants will use fewer utilities thanks to the investment.
The strategy was created in collaboration with the communities’ owners’ organisations, which are overseen by Provis, Aldar’s real estate property management firm. The Energy Project Management Company will be Grfn, and Siemens will handle the retrofit project.
The retrofit project will reduce annual carbon emissions by 80,000 tonnes, energy use by 110 GWh (29%) water use by 886,000 m3 (3%), chilled water use by 23,000,000 TRH (13%) and gas use by 726,000 m3.
Greg Fewer, Aldar’s chief financial and sustainability officer, said: “The commitment we have made to reduce the energy consumption of our residential communities reflects the pioneering role we have taken in the region’s real estate sector to reduce our carbon footprint. This project is special as its innovative structure enables significant capital investment into community assets while reducing energy consumption, carbon footprint and community service charges at the same time. We’re proud of our team’s ability to plan and execute real win-win solutions that move our industry forward and add tangible value to owners within Aldar-managed communities.”
