Al Ghurair Properties signs a 21-year solar lease agreement with SirajPower to generate 17GWh of clean energy

Al Ghurair Properties, the real estate development arm of Al Ghurair Investment, a leading diversified UAE family business, has inked a transformative 21-year partnership with renowned distributed solar energy provider in the GCC, SirajPower. This long-term strategic alliance will see SirajPower finance, design, construct, operate, and maintain the solar energy project at Al Ghurair Properties’ Display Centre in Al Quoz, delivering both substantial reductions in carbon emissions and energy expenditures.

The announcement harmonizes with the UAE’s commitment to sustainability, underscored by the ongoing Year of Sustainability and the forthcoming COP28, reaffirming the pivotal role of the business sector in supporting the nation’s ambitious energy transition objectives.

The signing ceremony officiating the agreement took place on 17th October in Dubai, in the presence of Anwar Atari, Chief Executive Officer, Al Ghurair Properties, and Laurent Longuet, Chief Executive Officer, of SirajPower.

Commenting on the agreement, Anwar Atari, Chief Executive Officer, of Al Ghurair Properties, said: “We are immensely pleased to announce this significant 21-year partnership with SirajPower, highlighting our ongoing commitment to sustainability and environmental stewardship. At Al Ghurair, we are aligned with the UAE’s sustainability goals, as we understand that building a prosperous future is intricately linked with protecting the environment that sustains it. This collaboration serves as a pivotal step in our ongoing journey toward carbon neutrality and energy efficiency.”

Over the first five years, the solar project is expected to generate 4,160MWh of clean energy, with 840MWh generated in the inaugural year alone. Across its 21-year lifespan, the project aims to produce a significant 17GWh of energy, equivalent to planting over 193 thousand tree seedlings for a decade and offsetting approximately 11,700 metric tons of carbon dioxide emissions.

On his part, Laurent Longuet, CEO at SirajPower said: “We are exhilarated to collaborate with Al Ghurair Properties in this venture. For SirajPower, excellence in the renewable energy sector is not merely about technological innovation, but also about the sustainable impact we imprint on communities. This partnership is a testament to our shared commitment toward creating a cleaner, more sustainable energy landscape in the UAE.”

This solar initiative makes a substantial contribution to the UAE’s energy diversification strategy, aligning with the nation’s net-zero vision to achieve 50% clean energy by 2050, comprising 44% from renewable sources and 6% from nuclear energy.