Alandalus Property Company Partners with Emerge to Advance Solar Power Initiatives
Alandalus Property Company has signed an agreement with Emerge, a leading renewable energy solutions provider and joint venture between Masdar and EDF Group, to provide solar power to three of its major commercial properties in Riyadh and Jeddah.
The agreement was signed by Eng. Faisal bin Abdulrahman Al-Nasser, CEO of Alandalus Property Company and Mr. Michel Abi Saab, General Manager of Emerge, in the presence of Omar Aldaweesh, CEO Saudi Arabia, EDF Group and Board Director of Emerge KSA, and Aurelien Delahaye, Deputy CEO Middle East, EDF Group.
Under the 10-year agreement, Emerge will finance, design, build and maintain the rooftop solar photovoltaic (PV) installations, with a total capacity of up to 3.4 megawatts peak (MWp), for the Hayat Mall in Riyadh, the Alandalus Mall and Alandalus Mall Hotel in Jeddah.
This partnership aligns with the Saudi Arabia Vision 2030 objective of utilizing renewable energy to reduce environmental impact and represents a significant step forward for Alandalus Property Company in advancing its commitment to environmental, social and governance principles.
Eng. Faisal bin Abdulrahman Al-Nasser, CEO, Alandalus Property Company, said:
By integrating renewable energy solutions, Alandalus Property Company supports global and national sustainable development goals. The use of solar energy aims to reduce our properties’ overall carbon emissions, while enhancing energy efficiency and delivering economic benefits.
Mohamed Jameel Al Ramahi, CEO, Masdar, said:
Emerge is dedicated to helping major organizations such as Alandalus Property Company to reduce their environmental impact and enhance sustainability. Through its Build-Own-Operate-Transfer (BOOT) model, Emerge provides companies with access to green electricity while lowering overall energy costs. This partnership underscores our commitment to supporting Saudi Arabian enterprises in achieving the country’s renewable energy targets set forth in Vision 2030.
Omar Aldaweesh, CEO of EDF Saudi Arabia and Board Director of Emerge, said:
We are proud, as EDF, to see Emerge collaborate with forward-thinking organizations like Alandalus Property Company, helping them harness the power of solar energy to achieve their sustainability goals. This partnership underscores our dedication to advancing renewable energy solutions across the Kingdom, reducing emissions, and fostering long-term economic and environmental positive impact.
Emerge, which trades in Saudi Arabia as Al-Shorouk Sustainable Energy Company, is a joint venture between Masdar, the UAE’s clean energy leader, and France’s EDF Group to develop solar generation, energy storage and hybrid solutions in the Middle East. The company offers clients full turnkey solutions through solar power agreements at no up-front cost to the client. Recognized with multiple awards, it is committed to creating a greener, sustainable future by helping businesses meet their sustainability goals.
Alandalus Property Company is a pioneer in investment and development and owns a diverse portfolio of projects across the real estate development and retail sectors.
