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Cenomi Centers, the largest owner, operator and developer of contemporary lifestyle centers in 抖阴短视频, has announced the signing of a collaboration agreement with Arabian Cooling for Cooling and Air Conditioning 鈥� a joint venture of FAS Energy and Sojitz Corporation 鈥� to build, own, operate and transfer a new, environmentally best-in-class cooling plant that will service the flagship Jawharat Riyadh development and deliver significant savings in electricity consumption.
Cenomi Centers will work together with FAS Energy and Sojitz Corporation, to ensure the delivery of efficient and sustainable cooling solutions in line with the highest standards. Jawharat Riyadh will be the first Gold LEED certified mall alongside Jawharat Jeddah.
As part of the agreement, no upfront capital expenditure will be required by Cenomi Centers. Cenomi Centers will save approximately 13 MWhr every year in electricity consumption delivering around SR4 million ($1.06 million) savings annually. The total savings over 25 years is estimated at approximately SR100 million. In addition, it is anticipated that Cenomi Centers will save approximately 30 percent in operation and maintenance costs including replacement costs every year.
The new central cooling plant will provide increased efficiency compared to traditional cooling systems, resulting in a reduced carbon footprint. According to the US Environmental Protection Agency calculator, the plant will save the equivalent of 1 million gallons of gasoline annually.
It will have a capacity of 12,500 refrigeration tons for a period of 25 years starting from the commercial operation date, spanning over 350,000 square meters and achieving LEED certification. It includes dedicated offices for the operations team, hybrid cooling technology based on water cooled and air-cooled chillers and a thermal energy storage tank with a capacity exceeding 14,000 cubic meters. It also comprises water pumps, a heat exchanger, electrical equipment and all necessary components to fully equip and operate the plant.
The district cooling plant will have a greater degree of automation, which will reduce manual intervention and hence lead to improvements in efficiency. It will also deliver significant benefits to retailers who will not need to install individual cooling units or manage their operations and maintenance.
Alison Rehill Erguven, CEO of Cenomi Centers, said: 鈥淚鈥檓 proud to announce the collaboration with FAS Energy and Sojitz Corporation to deliver this state-of-the-art cooling plant for Jawharat Riyadh. This agreement reflects Cenomi Centers鈥� ambitions to ensure that its developments are world-leading in sustainability. It represents a significant milestone in our sustainability strategy by delivering innovative energy solutions, which are aligned to Vision 2030. Not only will this collaboration deliver significant sustainability benefits through the reduction of electricity consumption, it will deliver an estimated SR100 million in monetary savings over the life of the contract.鈥�
Turki Al-Hokair, CEO of FAS Energy, said: 鈥淔AS Energy, founded in 2013, is proud to lead the way in investing in carbon-efficient infrastructure. Initially focused on renewable energy, FAS Energy is now expanding into other sectors as well, such as district cooling.
鈥淭hrough our collaboration with Cenomi Centers, we aim to combine the expertise of FAS Energy and Sojitz Corporation to deliver efficient cooling solutions that meet the growing demand for energy-efficient services in developments of this kind. These district cooling systems are designed to optimize energy consumption, reduce carbon footprints, and provide reliable, high-quality services.
鈥淐ollaborating with Cenomi Centers aligns with our commitment to sustainability, innovation, and contribution to 抖阴短视频鈥檚 Vision 2030. The implementation of these district cooling systems will not only benefit the environment but also enhance the overall experience for tenants and visitors within these developments.鈥�
Yasushi Asano, general manager, Energy Solutions Department 2 (Middle East and CIS), Sojitz Corporation, said: 鈥淲e鈥檙e excited to collaborate with Cenomi Centers on this flagship project. Providing sustainable and efficient cooling is one way we demonstrate our commitment to net-zero goals and a greener future. For us, this collaboration goes beyond technology 鈥� it鈥檚 about making a meaningful difference for communities and future generations.
鈥淲ith HVAC systems accounting for a significant portion of greenhouse gas emissions and consuming over 50 percent of a building鈥檚 electricity, investing in efficient cooling infrastructure is crucial. We aim to continue investing in future technologies and implementing them at the root level to reduce energy consumption in cooling infrastructure, thereby promoting both environmental sustainability and operational efficiency.
鈥淭his initiative also reflects Sojitz鈥檚 commitment to supporting 抖阴短视频鈥檚 Vision 2030 and its sustainability objectives. As we continue to invest in efficient infrastructure, projects like this demonstrate our belief that responsible business practices are integral to progress and growth.鈥�
To be completed at the end of 2025, the launch of Jawharat Riyadh and Jawharat Jeddah will be a watershed moment as Cenomi Centers pushes ahead with its ambitious growth pipeline to develop next-generation retail and lifestyle destinations in 抖阴短视频. Both malls will redefine the experiences of retail and leisure in the capital and nationwide. Jawharat Riyadh will introduce over 300 of the world鈥檚 most sought-after brands in more than 75 flagship stores, including 10 new brands to Riyadh.
The Arabian Cooling for Cooling and Air Conditioning has obtained a temporary license to operate district cooling services from the Saudi Electricity Regulatory Authority and any future developments regarding the JV鈥檚 acquisition of the final license will be announced at a later date.