Diriyah
Company's agreement with City Cool to improve energy efficiency
In a
landmark development, the Diriyah Company has entered into a pivotal
infrastructure agreement with City Cool Cooling Company.
This agreement encompasses the establishment of a district
cooling plant and its accompanying distribution network, boasting a capacity to
deliver up to 72,500 Tons of Refrigeration (TR) of cooling power. The chilled
water produced will cater to the cooling requirements of all non-residential
asse
ts within the initial phase of the Diriyah project.
The forthcoming district cooling plant is anticipated to
showcase top-tier efficiency standards within the Kingdom, boasting an
impressive energy efficiency rating of 0.7 KW/TR.
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Valued at SAR700 million, this partnership signifies a
significant milestone in Diriyah Company's strategic investment and
collaborative endeavors. The development agreement follows a 25-year Build,
Own, Operate, and Transfer (BOOT) structure, with ownership of the completed
infrastructure to be transferred to Diriyah Company upon completion.
Jerry Inzerillo, GCEO of Diriyah Company, expressed, “Our
strategic investments in Diriyah span across various sectors, aiming to offer
comprehensive solutions that enhance the quality of life for residents,
workers, and visitors alike. Prioritizing environmental sustainability, we
endeavor to minimize the development's carbon footprint through energy
efficiency measures, reduced water consumption, and an overall improvement in
quality of life.”
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Abdulsalam Al Mobayed, CEO of City Cool, remarked, “We are
honored to contribute to the Diriyah project, which places significant emphasis
on environmental stewardship. City Cool is fully committed to delivering a
reliable and efficient district cooling solution to meet the escalating demand
for cooling capacity in mega-projects like Diriyah, aligning seamlessly with
Vision 2030.”
Diriyah holds profound significance for modern Saudi Arabia,
embodying rich historical and cultural heritage. This partnership with City
Cool stands as one of the largest contracts undertaken by Diriyah Company,
solidifying its commitment as a dynamic developer shaping Diriyah into a
vibrant hub of culture, entertainment, education, and the arts.
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City Cool Cooling Company, a prominent district cooling
service provider in the region and a wholly owned subsidiary of Mada
International Holding, holds a majority shareholding of 90% in the project.
Together with ADC Energy Systems, City Cool will construct the state-of-the-art
district cooling plant and chilled water network in Diriyah, adhering to the
highest international standards of sustainability and urban development.
The architectural design of the plant will seamlessly blend with the surrounding environment, reflecting the cultural and architectural identity of Diriyah, while adhering to principles of sustainable green building.
Source: Zawya
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