FIVE becomes first hotel to obtain i-RECs in UAE
POWER & RENEWABLE ENERGY

FIVE becomes first hotel to obtain i-RECs in UAE

Coinciding with the UAE’s ‘Year of Sustainability, FIVE has become the first and only hotels in the UAE to obtain the International Renewable Energy Certificates (I-REC) to achieve 100% renewable electricity for 2022.

These certificates were received from the Mohammed bin Rashid Al Maktoum Solar Park, which Dubai Electricity and Water Authority P.J.S.C (DEWA) is implementing. The solar park is the largest single-site solar park in the world, using the Independent Power Producer (IPP) model. It will have a production capacity of 5,000 MW by 2030 with a total investment of AED 50 billion.

FIVE’s single delivery I-REC agreement was subsequently verified through the International Renewable Energy Certification Foundation (I-REC), the global leader in standardized renewable energy schemes and sustainability claims.

FIVE’s latest achievement of tapping into future-focused solutions for Sustainable Development distinguishes its unwavering commitment to Sustainable Hospitality.

HE Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA) said, "I congratulate FIVE on becoming the first and only hotel in the UAE to obtain the International Renewable Energy Certification Foundation (I-REC) to achieve 100% renewable electricity for 2022. FIVE's commitment to sustainability is a role model for other businesses in the UAE and around the world at all levels.”

HE Al Tayer added, "At DEWA, we promote sustainability and the shift towards a sustainable green economy by increasing the share of renewable and clean energy within Dubai’s energy mix. The current production capacity of the Mohammed bin Rashid Al Maktoum Solar Park, which DEWA is implementing is 2,327MW using photovoltaic solar panels and Concentrated Solar Power (CSP) technologies. This is about 15.7% of the total production capacity of energy in Dubai. We continue our efforts to achieve the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy 2050 to provide 100% of Dubai’s total power capacity from clean energy sources by 2050.”

Coinciding with the UAE’s ‘Year of Sustainability, FIVE has become the first and only hotels in the UAE to obtain the International Renewable Energy Certificates (I-REC) to achieve 100% renewable electricity for 2022.These certificates were received from the Mohammed bin Rashid Al Maktoum Solar Park, which Dubai Electricity and Water Authority P.J.S.C (DEWA) is implementing. The solar park is the largest single-site solar park in the world, using the Independent Power Producer (IPP) model. It will have a production capacity of 5,000 MW by 2030 with a total investment of AED 50 billion.FIVE’s single delivery I-REC agreement was subsequently verified through the International Renewable Energy Certification Foundation (I-REC), the global leader in standardized renewable energy schemes and sustainability claims.FIVE’s latest achievement of tapping into future-focused solutions for Sustainable Development distinguishes its unwavering commitment to Sustainable Hospitality.HE Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA) said, I congratulate FIVE on becoming the first and only hotel in the UAE to obtain the International Renewable Energy Certification Foundation (I-REC) to achieve 100% renewable electricity for 2022. FIVE's commitment to sustainability is a role model for other businesses in the UAE and around the world at all levels.”HE Al Tayer added, At DEWA, we promote sustainability and the shift towards a sustainable green economy by increasing the share of renewable and clean energy within Dubai’s energy mix. The current production capacity of the Mohammed bin Rashid Al Maktoum Solar Park, which DEWA is implementing is 2,327MW using photovoltaic solar panels and Concentrated Solar Power (CSP) technologies. This is about 15.7% of the total production capacity of energy in Dubai. We continue our efforts to achieve the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy 2050 to provide 100% of Dubai’s total power capacity from clean energy sources by 2050.”

Next Story
Infrastructure Urban

Consistent reforms will foster growth and reduce investor risk

Incorporated in 1986 as a wholly owned subsidiary of State Bank of India, SBI Capital Markets Ltd (SBICAPS) is a SEBI-registered Category I merchant banker and research analyst. It offers the entire bouquet of investment banking and corporate advisory services under one umbrella, covering project advisory and structured financing, capital markets, mergers and acquisitions, private equity, ESG advisory, startup advisory and stressed assets resolution. Headquartered in Mumbai, SBICAPS has seven regional offices of which six are in India (Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata and New ..

Next Story
Infrastructure Urban

Adani Group Invests $240M in Global Skills Academy

The Adani Group has announced a partnership with ITE Education Services (ITEES) of Singapore to establish a world-class talent pipeline for industries such as Green Energy, Manufacturing, Hi-tech, Project Excellence, and Industrial Design. The initiative will see an investment of over $240 million by the Adani family to set up internationally benchmarked schools of excellence, named Adani Global Skills Academy. These finishing schools will train students from technical and vocational backgrounds, equipping them with industry-relevant certifications. Graduates will have employment opportunities..

Next Story
Infrastructure Urban

Swiggy to Invest $120M in Scootsy for Expansion

Food and grocery delivery giant Swiggy Ltd announced on Friday that it will invest up to $120 million in its wholly owned subsidiary Scootsy Logistics in one or more tranches. Scootsy specializes in supply chain services and distribution, including warehouse management, in-warehouse processing with value-added services, and order fulfillment for wholesalers and retailers. "We wish to inform that the Board of Directors of the company, at its meeting held on Friday, February 21, 2025, has approved the investment by the company in the equity shares of Scootsy Logistics Private Limited, a wholly..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?