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Al-Futtaim Malls has announced an AED8mn Phase 2 for the Dubai Festival City Mall solar generation project.
Phase 1 of the project, which included the installation of solar panels on the roofs of IKEA and Carrefour in January 2020, has been successful, with high efficiency rates and an output of nearly AED 2.7 million worth of power.
Phase 2 will be divided into two sections providing a total of 2.6MWh of power, which is estimated to generate nearly AED1.6mn on an annual basis.
The first part of Phase 2 comprises a solar farm on the malls’ roof, which will provide direct power generation to common area assets. The second section, a solar generation farm atop ACE Hardware, will enable the retailer to follow a payback structure based on generated values similar to IKEA and Carrefour’s Phase 1 plan.
“The solar panels project, which ensures an agreed rate for Dubai Festival City Mall tenants as set forth by a contractual agreement, is set to usher in an era of sustainable development for the region’s retail industry.
Hayssam Hajjar, General Manager of Dubai Festival City Mall said, “At Al-Futtaim, we actively support socially responsible initiatives. Since 1955, we have grown by leaps and bounds across all categories, but our biggest goal is our continuing effort to become totally sustainable. Phase 1 of the solar generation project has proved to be a successful step in support of our efforts to become a greener mall, and an effective cost-saving solution for our partners.”
Al Futtaim Malls Dubai Festival City Mall solar generation project
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