Majid Al Futtaim Signs with Yellow Door Energy to Supply Solar Power to Carrefour Stores in Jordan
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Majid Al Futtaim Signs with Yellow Door Energy to Supply Solar Power to Carrefour Stores in Jordan Dubai, UAE, May 19, 2019: Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia, has signed with UAE-based Yellow Door Energy, the leading regional commercial solar developer, to bring solar power to Carrefour stores in Jordan. The 17-megawatt build-own-operate-transfer (BOOT) wheeling agreement will provide Carrefour stores located in Amman, Zarqa, Madaba and Al-Salt with 29 gigawatt-hours of clean energy in the first year of operation, meeting 100% of the retailer’s electricity needs in those areas. Alain Enjalbert, Country Manager for Carrefour Jordan at Majid Al Futaim Retail said: “Sustainability plays an important role in our business as illustrated by our Net Positive strategy, which aims to over compensate our water consumption and carbon emissions resulting in a positive corporate footprint by 2040. The BOOT solar agreement will prove not only integral to helping us achieve our goals but also halving our energy costs, allowing us to pass the savings on to our loyal customers across Jordan.” BOOT is defined as a form of project financing, wherein a private entity receives a concession from the private or public sector to finance, design, construct, own, and operate a facility stated in the contract1. As the BOOT solar provider, Yellow Door Energy will invest in, design, construct, commission, operate and maintain the solar park. Located east of Amman, the solar park will span an area of 366,000 square meters and will comprise of 300,000 solar panels. The park is expected to be completed and generating clean energy for Carrefour Jordan by the spring of 2020. Rory McCarthy, Chief Commercial Officer of Yellow Door Energy, commented: "We are proud to support Carrefour and Majid Al Futtaim in their sustainability endeavors while helping them reduce energy costs and improve competitiveness. Our solar park epitomizes Carrefour’s sustainability leadership and we hope it will inspire other retailers and multi-nationals to transition to solar power.” Jordan is a leader in the Middle East for its rapid adoption of renewable energy. Owing to the nation’s forward-thinking wheeling legislation, Yellow Door Energy will be permitted to build the solar park outside of Amman and send clean energy to the grid. Furthermore, by 2020, one-fifth of the country’s energy will be generated through renewables, as stated by His Majesty King Abdullah II of Jordan at the World Economic Forum on the Middle East and North Africa in April 20192. -Ends- About Carrefour Carrefour is one of the largest hypermarket and supermarket chains in the world. The brand was launched in the region in 1995 by Majid Al Futtaim, which is the exclusive franchisee to operate Carrefour in 37 countries across the Middle East, Africa, and Asia. Today, Majid Al 1 https://www.investopedia.com/terms/b/botcontract.asp 2 https://kingabdullah.jo/en/speeches/opening-world-economic-forum-middle-east-and-north-africa-0 Futtaim operates over 270 Carrefour stores, serving more than 750,000 customers daily and employing over 37,000 colleagues. Carrefour operates different store formats, as well as multiple online offerings to meet the growing needs of its diversified customer base. In line with the brand’s commitment to provide the widest range of quality products and value for money, Carrefour offers an unrivalled choice of more than 100,000 food and non-food products, and an exemplary customer experience to create great moments for everyone everyday. Carrefour first opened in Jordan in 2006, and today operates 34 stores and employs over 2,100 colleagues. About Majid Al Futtaim Founded in 1992, Majid Al Futtaim is the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia. A remarkable business success story, Majid Al Futtaim started from one man’s vision to transform the face of shopping, entertainment and leisure to ‘create great moments for everyone, every day’. It has since grown into one of the United Arab Emirates’ most respected and successful businesses spanning 15 international markets, employing more than 43,000 people, and obtaining the highest credit rating (BBB) among privately-held corporates in the region. Majid Al Futtaim owns and operates 25 shopping malls, 13 hotels and four mixed-use communities, with further developments underway in the region. The shopping malls portfolio includes Mall of the Emirates, Mall of Egypt, City Centre malls, My City Centre neighbourhood centres, and four community malls which are in joint venture with the Government of Sharjah. The Company is the exclusive franchisee for Carrefour in 37 markets across the Middle East, Africa and Asia, and operates a portfolio of more than 270 outlets in 15 countries. Majid Al Futtaim operates more than 400 VOX Cinemas screens and 36 Magic Planet family entertainment centres across the region. In addition to iconic leisure and entertainment facilities such as Ski Dubai, Orbi Dubai and Ski Egypt, among others. The Company is parent to the consumer finance company 'Najm', and a Fashion and Home retail business representing international brands such as Abercrombie & Fitch, AllSaints, lululemon athletica, Crate & Barrel and Maisons du Monde. In addition, Majid Al Futtaim operates Enova, a facility and energy management company, through a joint venture operation with Veolia, a global leader in optimised environment resource management. The Company also owns the rights to The LEGO Store and American Girl in the Middle East and operates in the food and beverage industry through a partnership with Gourmet Gulf. www.majidalfuttaim.com Please follow us on https://www.youtube.com/user/majidalfuttaim https://twitter.com/majidalfuttaim https://www.linkedin.com/company/majid-al-futtaim https://www.facebook.com/MajidAlFuttaim https://www.instagram.com/majidalfuttaim https://medium.com/@Majid.AlFuttaim Contact Information: Marie Peguilhan Intern Consultant Phone: +971 (0) 50 151 6681 Email: [email protected] About Yellow Door Energy Yellow Door Energy is the market-leading provider of solar and energy efficiency solutions for commercial and industrial customers in the Middle East, Africa and South Asia. Its projects enable customers to reduce energy costs, improve power reliability and lower carbon emissions. The company recently raised $65 million in Series A financing from global investors IFC, Mitsui, Equinor, APICORP and Adenium. www.yellowdoorenergy.com Contact Information: Josephine Pham Marketing Manager, Yellow Door Energy Phone: +971 4 454 3033 Email: [email protected] .