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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. 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. |
