Al Ghurair Properties, the real estate development arm of Al Ghurair Investment, has entered into a transformative 21-year lease partnership with prominent distributed solar energy provider SirajPower in the GCC region.
This long-term collaboration will see SirajPower financing, designing, constructing, operating, and maintaining a solar energy project at Al Ghurair Properties’ Display Centre in Al Quoz, resulting in significant reductions in carbon emissions and energy costs.
The announcement aligns with the UAE’s commitment to sustainability, emphasizing the critical role of the business sector in supporting the nation’s ambitious energy transition goals. The agreement was formalized in Dubai on October 17th in the presence of Anwar Atari, CEO of Al Ghurair Properties, and Laurent Longuet, CEO of SirajPower.
Anwar Atari, CEO of Al Ghurair Properties, expressed his satisfaction with the partnership, highlighting the company’s commitment to sustainability and environmental stewardship. He emphasized the importance of collaboration in their journey toward carbon neutrality and energy efficiency, aligning with the UAE’s sustainability goals.
Over the initial five years, the solar project is expected to generate 4,160MWh of clean energy, with 840MWh produced in the first year alone. Throughout its 21-year lifespan, the project aims to generate a substantial 17GWh of energy, equivalent to planting over 193 thousand tree seedlings for a decade and offsetting about 11,700 metric tons of carbon dioxide emissions.
Laurent Longuet, CEO at SirajPower, expressed excitement about the collaboration with Al Ghurair Properties, emphasizing the shared commitment to creating a cleaner, more sustainable energy landscape in the UAE.
This solar initiative significantly contributes to the UAE’s energy diversification strategy and aligns with the nation’s net-zero vision to achieve 50% clean energy by 2050, with 44% from renewable sources and 6% from nuclear energy.