{"id":500,"date":"2024-10-07T00:07:00","date_gmt":"2024-10-06T20:07:00","guid":{"rendered":"https:\/\/www.utilitybusinessmena.com\/?p=500"},"modified":"2024-10-07T00:07:00","modified_gmt":"2024-10-06T20:07:00","slug":"seef-properties-and-yellow-door-energy-sign-major-9-2-mwp-solar-power-deal-for-four-shopping-malls","status":"publish","type":"post","link":"https:\/\/cheeltech.com\/utilitybusinessmena\/news\/seef-properties-and-yellow-door-energy-sign-major-9-2-mwp-solar-power-deal-for-four-shopping-malls","title":{"rendered":"Seef Properties and Yellow Door Energy sign major 9.2 MWp solar power deal for four shopping malls"},"content":{"rendered":"\n

Press Release: Seef Properties<\/a>, the largest real estate developer in the Kingdom of Bahrain, announced the signing of a power purchase agreement (\u201cPPA\u201d) with Yellow Door Energy<\/a> (\u201cYDE\u201d), the leading sustainable energy partner for businesses in the Middle East and Africa. <\/p>\n\n\n\n

The landmark agreement will bring clean electricity to four premier retail destinations: Seef Mall \u2013 Seef District, Seef Mall \u2013 Isa Town, Seef Mall \u2013 Muharraq, and Al Liwan.

The solar power plants<\/a> will have a combined capacity of 9.2 megawatts-peak (MWp), featuring over 15,600 solar panels. Approximately half of the solar panels will be placed on rooftops, and the other half will be installed as bifacial high-efficiency modules in car parks across the four shopping malls. <\/p>\n\n\n\n

Once completed, the solar power plants are expected to produce 14,900 megawatt-hours (MWh) of clean energy in the first year of operation. This is equivalent to over 10,000 metric tons of carbon emissions avoided.<\/p>\n\n\n\n

Ahmed Yusuf,<\/strong> CEO of Seef Properties, expressed his enthusiasm for the initiative, stating: \u201cOur commitment for sustainable business practices is evident in this PPA with Yellow Door Energy, which will also significantly reduce our energy costs. Seef Properties has always been dedicated to enriching the Kingdom\u2019s community and ensuring that our business operates in an ethical, sound and responsible manner. By leveraging YDE\u2019s trusted capabilities, we look forward to installing solar plants in four key venues across the Kingdom, resulting in a lasting impact through a considerable reduction in carbon emissions. We are confident that this agreement will set a new benchmark for sustainable retail best practices and overall sustainable development in Bahrain.\u201d<\/p>\n\n\n\n

Jeremy Crane<\/strong>, Group CEO at Yellow Door Energy, said, \u201cYellow Door Energy is honored to partner with Seef Properties on this multi-venue solar PPA. With a strong track record and a growing portfolio now totaling 31.5 MWp of solar projects in Bahrain, we are well-positioned to continue delivering affordable, reliable, and sustainable energy solutions. This collaboration contributes to Seef Properties\u2019 sustainability efforts and advances the Kingdom\u2019s journey towards its Net Zero by 2060 target.\u201d<\/p>\n\n\n\n

As the solar developer, Yellow Door Energy is responsible for financing, designing, building, commissioning, operating and maintaining the solar power plants for the duration of the PPA. By working with solar developers, businesses can reduce their energy costs without any upfront investment or operational risk, while maintaining focus on their core business and enjoying the benefits of clean energy.<\/p>\n\n\n\n

About Seef Properties\u00a0<\/em><\/strong><\/p>\n\n\n\n

Seef Properties B.S.C. was established in the year 1999 as a public shared company listed on Bahrain Bourse and its operations are headquartered in the Kingdom of Bahrain, becoming a leader in the retail, hospitality, entertainment and real estate development sectors on the level of the Kingdom.\u00a0 Today, Seef Properties manages a large portfolio of assets, promoting its position as a distinguished commercial brand.\u00a0 The vision of Seef Properties is centered to its constant strives to become a leading real estate company in innovation and diversity, driven by the implementation of the highest standards and values to achieve its goal in excellence, and the satisfaction of shareholders, partners and clients.\u00a0 The Company\u2019s message is centered to the development, acquisition and management of a real estate investment portfolio that serves the retail, entertainment and hospitality sectors.<\/em><\/p>\n\n\n\n

About Yellow Door Energy<\/em><\/strong><\/p>\n\n\n\n

Yellow Door Energy is the leading sustainable energy partner for businesses, serving commercial and industrial customers in the Middle East and Africa. The company\u2019s solar and battery energy storage system (BESS) solutions enable businesses to reduce energy costs, improve power reliability and lower carbon emissions. These solutions, operating under a solar lease or power purchase agreement (PPA), directly contributing to companies\u2019 and countries\u2019 Net Zero targets. Yellow Door Energy\u2019s shareholders are Actis, the International Finance Corporation (IFC), Mitsui & Co., Ltd., and The Arab Energy Fund (TAEF).<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Yellow Door Energy to develop solar power plants at four Seef Properties shopping malls in Bahrain, totaling 9.2 megawatts-peak in capacity <\/p>\n","protected":false},"author":4,"featured_media":501,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[70,40,41],"tags":[476,477,478,43,479],"class_list":{"0":"post-500","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-climate-change","8":"category-news","9":"category-renewable-energy","10":"tag-ahmed-yusuf","11":"tag-jeremy-crane","12":"tag-seef-properties","13":"tag-solar-power","14":"tag-yellow-door-energy"},"_links":{"self":[{"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/posts\/500","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/comments?post=500"}],"version-history":[{"count":0,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/posts\/500\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/media\/501"}],"wp:attachment":[{"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/media?parent=500"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/categories?post=500"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/tags?post=500"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}