Dubai Festival City Mall Extends Solar Generation Project Af...| MENAFN.COM

Sunday, 16 January 2022 07:24 GMT

Dubai Festival City Mall Extends Solar Generation Project After First Successful Phase with AED 8 Million Investment


(MENAFN- Mid-East.Info)

Dubai, UAE: Following the success of Phase 1 of the Dubai Festival City Mall solar generation project, Al-Futtaim Malls has announced plans to extend the facility's operations with an AED 8 million Phase 2. The solar panels, installed in January 2020 on the roofs of IKEA and Carrefour, have yielded high efficiency rates and an output of nearly AED 2.7 million worth of power.

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. Phase 2 is divided into two sections providing a total of 2.6 MWh of power, which is estimated to generate nearly AED 1.6 million on annual basis.

The first part of Phase 2 comprises a solar farm on the malls' roof, which provides 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.

Commenting on the second launch, 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.”

The solar panel initiative will also be integrated into Al-Futtaim's Festival Plaza mall, a Jebel Ali community hotspot.

About Al-Futtaim :

Established in the 1930s as a trading business, Al-Futtaim today, is one of the most diversified and progressive, privately held regional businesses headquartered in Dubai, United Arab Emirates.

Structured into five operating divisions; automotive, financial services, real estate, retail and health; employing more than 33,000 employees across more than 20 countries in the Middle East, Asia and Africa, we partner with over 200 of the world's most admired and innovative brands. 

Al-Futtaim's entrepreneurship and relentless customer focus enables the organisation to continue to grow and expand; responding to the changing needs of our customers within the societies in which we operate.

By upholding our values of respect, excellence, collaboration, integrity; Al-Futtaim continues to enrich the lives and aspirations of our customers each and every day.

About Dubai Festival City Mall :

Dubai Festival City Mall is one of the major shopping destinations in Dubai and super-regional flagship mall in the Al-Futtaim Malls portfolio. With over 400 outlets, the mall is home to IKEA, renowned fashion brands like Zara, H&M, Marks & Spencer, Nike, Adidas and more. 

The dining destination offers iconic waterfront Dining on Festival Bay, 50 restaurants and cafés, the largest Food Court in Dubai and is first to market F&B concepts like Origami, Oporto, Sugar Factory, Tortilla, a brand-new Rainforest Cafe and the Middle East's only Hard Rock Café. The entertainment venue offers a 7-star 18-Screen Novo Cinemas with 4D IMAX, Fabyland, a 70,000 sq. ft. family entertainment centre, world first BounceX trampoline park and the record-breaking, global attraction IMAGINE. 

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