FIVE Hotels in the UAE have achieved a significant milestone by being the first and only hotels in the country to acquire the International Renewable Energy Certificates (I-REC) for attaining 100% renewable electricity in 2022.
These certificates were obtained from the Mohammed bin Rashid Al Maktoum Solar Park, a groundbreaking solar park implemented by the Dubai Electricity and Water Authority (DEWA). The solar park, employing the Independent Power Producer (IPP) model, is the largest of its kind globally, with a projected production capacity of 5,000MW by 2030 and an investment of AED 50 billion.
The verification of FIVE’s I-REC agreement was conducted by the International Renewable Energy Certification Foundation (I-REC), renowned for its standardized renewable energy schemes and sustainability claims.
Saeed Mohammed Al Tayer, the MD & CEO of DEWA, expressed his congratulations to FIVE, commending them for being the pioneering hotel in the UAE to secure the International Renewable Energy Certification Foundation (I-REC) and achieve 100% renewable electricity in 2022. He acknowledged FIVE’s commitment to sustainability, recognizing them as a role model for businesses at all levels, both in the UAE and worldwide.
Al Tayer further emphasized DEWA’s commitment to promoting sustainability and advancing the shift towards a sustainable green economy by augmenting the share of renewable and clean energy in Dubai’s energy mix. He highlighted that the current production capacity of the Mohammed bin Rashid Al Maktoum Solar Park, implemented by Dewa, stands at 2,327MW, employing photovoltaic solar panels and Concentrated Solar Power (CSP) technologies. This capacity represents approximately 15.7% of Dubai’s total energy production capacity. He reiterated Dewa’s ongoing efforts to achieve the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy 2050, aiming to fulfil 100% of Dubai’s power capacity from clean energy sources by 2050.
FIVE Hotels, through their innovative approach known as “Sustainable Indulgence,” continue to redefine luxury and entertainment while upholding social and environmental responsibility. By being the sole hotel in the UAE to purchase i-RECs from DEWA for achieving 100% solar-powered electricity, FIVE showcases the potential of collaboration with stakeholders to drive innovation on the path toward decarbonization. This achievement aligns with FIVE’s sustainability objective of fostering vibrant communities and partnerships through innovative solutions that address social and environmental challenges.
Looking ahead, FIVE Hotels aspire to further reduce their carbon footprint and enhance their energy and environmental efficiencies. They aim to continue their remarkable progress by setting Science-Based Targets (SBTi) in line with a 1.5°C scenario by 2025. As a signatory to the UN Global Compact and a member of the Global Sustainable Tourism Council (GSTC), FIVE actively expands its engagement in environmental and social alliances, fostering a global community committed to sustainability.
Kabir Mulchandani, Chairman and Founder of FIVE, hailed the collaborative innovation between FIVE and Dewa in pursuit of sustainable development, citing their electric milestone as a testament to the power of visionary changemakers. As the first hotel group in the UAE to receive 100% renewable electricity from Dewa, FIVE embraces this historic “Year of Sustainability” with great pride and honor, particularly in anticipation of COP28.