Azizi Developments has announced its new project – Azizi Grand
The UAE-based real estate...
The Azizi Grand project will be located in the Dubai Sports City and Meydan Avenue and is set to cost AED750mn (US$204.2mn).
The UAE-based real estate developer, Azizi Developments, is set to build 431 apartments in Sports City – divided into 238 studios, 140 on-bedroom flats, and 53 two-bedroom apartments.
The project will span across 47,100 square metres on the Sheikh Mohammed bin Zayed Road, and will also include two swimming pools, six elevators with panoramic views, and two staircases.
“As Azizi Developments’ first project in Dubai Sports City, Azizi Grand is a reflection of our strategy to develop products in strategic areas of Dubai where neighbourhoods and communities will thrive,” commented Chairman of Azizi Group, Mirwais Azizi.
“We are confident that Azizi Grand’s modern design and superb location will offer a high-value proposition for long-term investors and end-users looking for strong returns”.
The projects located on Meydan Avenue will feature three low-rise buildings – Azizi Gardens, Azizi Park Avenue, and Azizi Greenfield – with a total of 242 rooms.
“We are also proud to announce the launch of our third development with Meydan, reflecting the master developer’s confidence in our development plans,” Azizi added.
“As a construction-driven company, we are focused on developing community lifestyle projects in prime locations in Dubai, such as Meydan Avenue.”
“Its proximity to the Meydan Grandstand in the midst of the racing hub of Dubai makes Meydan Avenue a prized opportunity for developers to complement the city’s infrastructure and offers a great investment experience for future residents and investors.”
Sonnedix starts construction of 50MW solar plant in Spain
Sonnedix has started building a 50MW solar PV plant in Badajoz, Spain.
Sonnedix Los Frailes will be built on a 111-hectares, becoming the largest project built by the IPP in the country, where it has operated since 2010. With over 110,000 monocrystaline solar panels, the project will connect through a transmission line to the Vaguadas substation.
During construction, Sonnedix will create approximately 250 new jobs in Badajoz, in line with its ESG standards and commitment to improving the life of the local community.
Once operational, Sonnedix Los Frailes, which is being developed in collaboration with Viridi RE group, will produce approximately 102,000 MWh per year, capable of powering more than 36,500 homes with clean electricity and avoiding over 24,000 tons of CO2.
Axel Thiemann, CEO of Sonnedix, said: “We are excited to start the construction of our largest project to date in Spain, a milestone that highlights both our strong commitment to the Spanish market, and our potential to expand our platform worldwide. We are very proud of our hard-working and committed team in Spain, which has doubled in the last year, and we look forward to continue developing and acquiring solar PV projects in the country, playing an important role in the energy transition, as well as the post-pandemic economic recovery.”
Last June 2020, Sonnedix signed a 10-year Power Purchase Agreement (PPA) with Europe´s largest producer of renewable energy and leading PPA provider Statkraft for the supply of 100 GWh of energy per year, making it the IPP’s first PPA for a grid-parity project in Spain.
Sonnedix is one of the leading solar IPPs in Spain, with over 1GW of capacity, including 365MW operational, 50MW under construction, and a development pipeline of over 600MW. Currently it has almost 2GW under operation or construction across eight countries, plus more than 2GW in the pipeline.
According to SolarPower Europe, Spain is expected to have a total installed solar PV capacity of 29GW by 2024 in the medium scenario, making it the second largest solar market in Europe. Renewables produced 50.7% of Spain’s electricity in May, generating 10% more gigawatt-hours year-on-year.
The Spanish National Energy and Climate Plan (NECP) targets 74% of renewable electricity generation and 39.2 GW of PV capacity by 2030.