More than 12,000 solar panels will be added to malls across Dubai, to help save Dh80 million in energy costs over 25 years.
Enova, a joint venture between Dubai’s Majid Al Futtaim and Veolia of France, will install 12,500 panels at four Majid Al Futtaim Malls in a deal signed this week coinciding with the World Environment Day.
The mall operator is looking to have at least 5 per cent of the energy that it uses to power its operations come from renewables by the end of the year. The shopping centres that will be outfitted with the panels include Mall of the Emirates, City Centre Deira, City Centre Mirdif and City Centre Fujairah. The total investment was not disclosed.
Fuad Mansoor Sharaf, Majid Al Futtaim’s managing director of shopping malls, said investing in renewables was the company’s prerogative as it looks to become a regional leader in the environment. "We want to lead by example by applying international best practices across our portfolio and have a positive impact on the communities we serve," he said.
This comes after City Centre Me’aisem and My City Centre Al Barsha began generating some of their electricity from solar panels last year. Majid Al Futtaim said the new deal will help to cut carbon dioxide emissions by 3,200 tonnes a year, or the equivalent of removing 700 cars from the road.
The solar panels will need to be replaced in 25 years, and Enova has brokered a deal to ensure that the manufacturers collect and process end-of-life equipment.
"Our energy management solutions are based on a comprehensive package of services, including design, commissioning, strategy and long-term maintenance – and when parts eventually expire, we’ll take them away for recycling," said Anne Le Guennec, the chief executive of Enova.
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What is blockchain?
Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.
The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.
Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.
However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.
Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.
COMPANY PROFILE
Name: Mamo Year it started: 2019 Founders: Imad Gharazeddine, Asim Janjua Based: Dubai, UAE Number of employees: 28 Sector: Financial services Investment: $9.5m Funding stage: Pre-Series A Investors: Global Ventures, GFC, 4DX Ventures, AlRajhi Partners, Olive Tree Capital, and prominent Silicon Valley investors. 
