- Second prominent residential project for SirajPower in Dubai and first fully financed solar rooftop project for the residential sector in the Middle East
- New partnership with Al Khail Heights (by Texture Holding) and Green Coast Real Estate-Mirdif Villa Complex to result in a total of 3MWp system capacity and generate 5GWh of annual energy production
- Supporting the increased demand from developers and homeowners to shift to solar energy with the adoption of a leasing model to make savings and reduce their carbon footprints
- Post COVID-19 agenda expected to be highly dominated by sustainability and savings. According to IRENA, green energy could drive COVID-19 recovery with $100tn boost
Following the success of its award-winning project with DP World to provide solar energy to JAFZA staff accommodation completed earlier this year, SirajPower, UAE’s leading distributed solar energy provider, today announced two new residential partnerships in Dubai. SirajPower inked a deal with Al Khail Heights (by Texture Holding) and Green Coast Real Estate – Mirdif Villa Complex that will result in a total 3MWp system capacity, and generate 5GWh of annual energy production, whilst displacing more than 3,000 metric tons of carbon dioxide emission (Co2) per annum, corresponding to approximately 450 million smartphones being charged.
Laurent Longuet, CEO at SirajPower: “Today, the way we live has been disrupted because of the novel coronavirus, COVID-19. It has raised further awareness of our lifestyle and the impact it has on our environment. Before the outbreak, there was already a strong push to make sustainability a way of life in the UAE and the region. As a company, we are proud to be part of a local family business that has always played an important role to help the community and that has been able to support the development of the long-term green vision of our leadership.”
The partnership is already SirajPower’s second important project in the residential sector this year. To implement such a project, the company benefited from its key market differentiator, a fully integrated leasing model which eases energy expenses and can help mitigating the economic impact of the current crisis. SirajPower provides the design, construction, installation, commissioning, operation, maintenance, and financing that allow businesses to work with a single point of contact throughout the whole journey of their energy ambitions.
Longuet continued: “With the successful implementation of this project, we proved that a fully financed solar model is now becoming a reality in Dubai and the Middle East. Our team’s tireless efforts, level of expertise and experience are market-leading. As a result, SirajPower became the first and only fully comprehensive distributed solar energy company in the region that can provide a ‘commercial’ solar leasing solution for the residential market.
“To date, and thanks to the important role Shams Dubai played in the development of the Emirate’s flourishing solar industry, we have been championing the commercial and industrial sectors which have been the main beneficiaries of solar rooftop plants. Our expansion in the residential sector is a ground-breaking move that showcases our commitment to increasing the number of solar projects in the UAE to achieve its ambitious sustainable development goals. We are confident that we can continue our expansion and tap into different sectors, and new markets as we aim to change the way the region is powered. Together, with the support of the authorities, we can build a solar rooftop culture to make sustainability a way of life.”
The residential market has been slower in the adoption of solar energy due to scepticism about the benefits of creating green real estate assets and its possible financial benefits. SirajPower’s milestones has paved the way and will help continue to boost the sector in which the outlook is promising. Market reports demonstrate Dubai’s position as a model for sustainable real estate development and the market continues to witness a growing demand for sustainable living and reduced carbon footprint.
Mansoor Nabil A G Hussain, CEO at Green Coast Real Estate said: “SirajPower’s unique and innovative leasing model is a game-changer and we believe that their services will further contribute to the development of the local and regional solar market. What has been key for us is that they have been able to demonstrate data and evidence showing costing impacts which are essential to shift attitudes in the market. As a developer, we are now able to quantify the value of our investments in solar rooftops and our energy savings. We have a high-quality portfolio that will now be enhanced with a sustainable solution.”
Zubair Patni, Director at Al Khail Heights LLC (by Texture Holding) said: “In Dubai, the leadership has put in place an integrated energy strategy that aims to achieve a 30% reduction in energy and water usage across the built environment by 2030. This is important for property owners and occupiers as it will result in tangible saving benefits. We have selected SirajPower as our green partner of choice for the proven added value they’ve provided to other businesses. We proudly embark with them and the guidance of our wise leadership in their path to support the long-term Green Economy for Sustainable Development initiative.”
According to the latest report from IRENA, renewable energy could power an economic recovery from COVID-19 by spurring global GDP gains of almost $100tn between now and 2050. An accelerated investment in renewable energy could generate significant economic benefits while also helping to address global climate emergency.
SirajPower is the first and only locally-owned company in Dubai licensed and certified to deliver pioneering solar financing solutions for both businesses and the residential market. The company’s portfolio is witnessing steady growth in the region with over 50MWp already under operations, further strengthening the company’s leading position in distributed solar energy.