Diriyah, March 21, 2024, In a press release issued today, The Diriyah Company has unveiled a groundbreaking infrastructure agreement with City Cool Cooling Company, marking a significant milestone in the development of the Diriyah project. The agreement encompasses the establishment of a district cooling plant along with an associated distribution network, capable of delivering a maximum cooling power of 72,500 Tons of Refrigeration (TR).
The chilled water produced by the plant will cater to the cooling needs of all non-residential assets within the initial phase of the Diriyah project. According to the release, the district cooling plant is poised to feature the most efficient system in the Kingdom, boasting an impressive energy efficiency rating of 0.7 KW/TR.
Valued at SAR700 million, this strategic investment effort by Diriyah Company is structured under a 25-year Build, Own, Operate, and Transfer (BOOT) model. Upon completion, the infrastructure will be transferred to Diriyah Company.
Diriyah Company's CEO, Jerry Inzerillo, expressed enthusiasm about the development, highlighting the company's commitment to enhancing the quality of life in Diriyah while prioritizing environmental sustainability. He emphasized the core principle of minimizing the development's carbon footprint through energy efficiency measures and water conservation.
Abdulsalam Al Mobayed, CEO of City Cool, echoed Inzerillo's sentiments, underlining City Cool's dedication to delivering reliable and efficient district cooling solutions in support of Diriyah's ambitious vision and Vision 2030 objectives.
The partnership with City Cool signifies one of the largest contracts secured by Diriyah Company, reinforcing its role as a dynamic mixed-use developer reshaping urban planning in Diriyah. With a focus on culture, entertainment, education, and the arts, the project is set to transform Diriyah into a vibrant cultural capital.
At the heart of Diriyah lies the UNESCO World Heritage Site of At-Turaif, serving as a beacon of Saudi Arabia's rich history and cultural heritage. The project aims to celebrate Najdi culture while inspiring future generations of innovators, entrepreneurs, and educators.
City Cool Cooling Company, a subsidiary of Mada International Holding, holds a majority stake in the project, with 90% ownership. Alongside ADC Energy Systems, City Cool will spearhead the construction of the advanced district cooling plant, ensuring adherence to the highest international standards of sustainability and architectural harmony with the surrounding environment.
