Taka Solutions has signed an energy efficiency project with Aqaar Community Management, the largest project of its kind undertaken in the Emirate of Ajman.
Aqaar Community Management has signed a 10-year shared savings energy performance contract (SSEPC) with Taka Solutions, for Falcon Towers, a cluster of eight residential towers, located in Ajman’s Rashidiyah 2 district.
As part of this project, Taka Solutions will be financing the replacement of most of the chiller units responsible for generating the cooling requirement for the buildings with new and more efficient units, replacing the chilled water pumps and upgrading the chilled water network, replacing the existing thermostats with programmable ones and replacing old and inefficient lights with LEDs. The combined new equipment, together with an advanced control and automation system and building management system, will generate significant savings of almost 40% for the buildings, equivalent to an energy consumption reduction of 7.1 million KW and per year cost savings of more than AED 3,231,453, reducing the total energy expenditure and carbon footprint.
Eng. Zakareya Al Kamali, General Manager, Aqaar Community Management stated;
“The project between Aqaar & Taka Solutions represents the practical implementation of our wise leadership’s vision when it comes to the effective utilization of our energy and resource in creating significant impact while improving people’s quality of life.
While this project contributes to increase individual and institutional productivity, it also embodies the UAE’s 2050 vision and future strategy that aims to reduce the carbon footprint associated with energy production by 70% while simultaneously increasing end-user energy efficiency by 40%.
This project and partnership are a starting point that symbolizes a mindset shift regarding energy efficiency, improved infrastructure and the reduction of their associated costs.”
In a statement released, Mohammed Abdulghaffar Hussain, Chairman, Taka Solutions and Chairman and Co-Founder, Creek Capital said;
“We are honoured to have signed this contract with Aqaar Community Management, which represents both the largest energy performance contract in Ajman and the largest project executed by Taka Solutions. The successful delivery of this project will support Ajman’s efforts to reach its ambitious targets of energy reduction and carbon neutrality, and we are excited to be part of this journey with Aqaar Community Management towards a more sustainable future”.
Henrique Pereira, CEO of Taka Solutions also commented;
“This energy efficiency project for Falcon Towers in Ajman represents a major milestone, as the largest retrofit project in Taka’s history and the largest energy efficiency project in the Emirate of Ajman with Aqaar Community Management. The significant savings of almost 40% for the buildings will also contribute to a large reduction in carbon footprint, without compromising the occupant’s comfort. It’s also an important contributor to Ajman’s energy efficiency and sustainability goals, which we are proud to support with this project and committed to continue to support in the upcoming years”.
In 2022, Taka has signed several energy efficiency projects with property managers, single-building owners and owners association boards including clients such as Alpha Sweet Water, Index Tower DIFC, SABA Properties and La Quinta By Wyndham Hotel.
Coupled with existing projects, during 2022, the company is expected to delivery energy reduction of more than 25% across the project portfolio, representing almost 25 million kWh and 17,500 tons of CO2. This is equivalent to CO2 emissions from 1.74 million gallons of diesel consumed or carbon sequestered by almost 300,000 tree seedlings grown for ten years.
Aqaar is a Government Public Corporation, founded in 2016 by an Emiri Decree No. (9) from the vision of His Highness Sheikh Humaid bin Rashid Al Nuami Supreme Council Member and Ruler of Ajman. The company is the join union of Department of Private Properties formed in 1999 by an Emiri Decree No. (3) and The Real Estate Investments Public formed in 2002 by an Emiri Decree No. (15). Aqaar had a big role in the development of the Emirate, Aqaar owns more than 300 buildings with the total of more than 40,000 units, commercial, residential and retail. Lately, Aqaar handed over its free-hold project Ajman Corniche Residence as well as the leasing project AlGhuroub Buildings.