Cenomi Centres to deploy solar PV panels to cut Scope 2 emissions
The solar panels will have an environmental contribution equivalent to 870,000 trees grown for 10 years
Cenomi Centres, an owner, operator and developer of contemporary lifestyle centres in Saudi Arabia, has said it will install solar PV panels across its sites, in a bid to drastically reduce its Scope 2 emissions.
The firm said it has executed a Portfolio Development Agreement with a consortium formed by FAS Energy and Marubeni Corporation.
The partnership was signed by Alison Rehill-Erguven, CEO of Cenomi Centres, Yoshiaki Yokota, CEO, Energy & Infrastructure Solution Group of Marubeni, and Turki Mansour Al Hokair, CEO of FAS Energy, during COP28.
The parties will initially deploy solar PV panels for a period of 20 years on the roofs and carports of 13 selected Cenomi Centres’ assets, and may extend to the installation of related EV charging infrastructure, subject to all regulatory approval and permits applicable in Saudi Arabia.
Solar panels absorbing the suns energy on hot summer day
The initial deployment is expected to accommodate a total capacity of approximately 52MWp and generate 93GWh per year. At full deployment, it is expected that 15% of Cenomi Centres’ annual electricity consumption will come from 100% renewable sources.
The installations will result in the reduction of 53,000t of CO2 emissions per year, which is equivalent to 870,000 trees grown for 10 years. This agreement with FAS Energy and Marubeni Corporation supports Cenomi Centres in delivering on its ambitions to create and maintain a sustainable business model that offers a positive, lasting impact on the communities in which it operates.
The installations will be rolled out in phases, beginning with Cenomi Centres’ sites in Riyadh in early 2024, before moving on to other shopping centres across the Kingdom. All sites are expected to be completed and in operation by 2025. The agreement is based on a design, finance, build, own and operate model – without upfront capital investments or any operational burdens to Cenomi Centres.
