ADNEC Group signs Solar Power Purchase agreement with Positive Zero
Deal News | Jan 16, 2025 | Zawya
ADNEC Group, part of Modon, has entered into a Power Purchase Agreement (PPA) with Positive Zero, the region's leader in decarbonization, to install a solar photovoltaic system on ADNEC Centre's roof in Abu Dhabi. This 15-year agreement, revealed at the World Future Energy Summit, will see the installation of a system capable of delivering 5MWp, enough to satisfy 30% of the facility's annual electricity needs. The initiative, part of ADNEC's commitment to sustainability and net-zero emissions by 2045, anticipates a significant reduction in carbon emissions by 6,000 metric tonnes annually. This partnership aligns with UAE's broader energy transition objectives, further consolidating ADNEC's leadership in sustainable event management. Positive Zero's innovative model emphasizes zero upfront investment, streamlining the deployment and operation of solar infrastructure while significantly cutting operational and carbon costs across industries.
Sectors
- Renewable Energy
- Event Management
Geography
- United Arab Emirates – The agreement and installations are taking place in Abu Dhabi, UAE, and align with the country's energy transition goals.
- Middle East – Positive Zero operates as a leading entity in decarbonization across the Middle East, providing the context for this collaboration.
Industry
- Renewable Energy – This industry is relevant as the article discusses a solar energy system installation to facilitate a transition to cleaner energy.
- Event Management – ADNEC Group operates within the event management sector, focusing on sustainable practices for managing large-scale events.
Financials
- 5 Mega-Watt Peak (MWp) – Installed capacity of the solar photovoltaic system for the ADNEC Group.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| ADNEC Group | Target company | Company | A leading international integrator of strategic assets and event management, headquartered in Abu Dhabi. |
| Positive Zero | Bidding Company | Company | A leading provider of decarbonization services in the Middle East, engaged in advancing sustainable energy transitions. |
| Modon | Parent Company | Company | Parent organization of ADNEC Group, involved in the management and development of Abu Dhabi's urban environment. |
| World Future Energy Summit | Event | Event | A significant energy event where the agreement was formalized. |