Energy Aldar says retrofit project to save $11m per year in energy costs By Pramod Kumar August 24, 2022, 5:28 AM Creative Commons Aldar's retrofit project is expected to remove 80,000 tons of carbon emissions annually across its assets Abu Dhabi-listed Aldar Properties’ retrofit project will save AED 40 million ($10.89 million) per year in energy consumption costs, with the developer reporting it reduced energy consumption by 20 percent in 2021. In its 2021 Sustainability Report, the company said that the group’s retrofit project is the largest of its kind in the UAE and is expected to remove 80,000 tons of carbon emissions annually across its 80 hotel, school, commercial, leisure and residential assets. The developer last year also built its first solar hybrid power plant at one of its construction sites and signed a clean energy agreement with Emirates Water and Electricity to provide clean energy sources for up to five years. According to the report, Aldar recirculated AED 8.8 billion to the local economy through the national In-Country Value (ICV) programme by engaging with local contractors, consultants and suppliers, including small and medium enterprises. The UAE developer signed development project contracts worth AED 8.5 billion, including 16 contracts with UAE‑based companies. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
