January 20 (Renewables Now) - The Arab Petroleum Investments Corporation (APICORP), a Saudi multilateral development bank, has signed two agreements with Yellow Door Energy (YDE) under which the Dubai-based firm will install rooftop solar panels and implement energy efficient retrofits at its headquarters in Dammam.
The solar array will take up 4,300 sq m and will have to be fitted with a customised mounting structure to adapt to the roof’s wavy design, APICORP said in a statement on Sunday.
The capacity of the future solar array was not mentioned but the bank said it expects to generate up to 718 MWh of clean power and reduce energy consumption at the headquarters by 35%. With energy efficiency retrofits, which will cover the air conditioning and chiller systems and the installation of LED light bulbs, the new fittings will help APICORP cut carbon emissions by 2,000 tonnes in the first year.
YDE will complete work under the contracts by end-2020.
The solar lease and shared energy savings contracts represent YDE’s first project in Saudi Arabia. The solar and energy efficiency-focused company is said to have over 100 MW of solar assets under development in the UAE, Jordan, Pakistan and Egypt.