Dubai – Mubasher: Emirates Central Cooling Systems Corporation (Empower) has awarded a set of contracts to build an advanced new-generation district cooling plant, according to a press release.
The DFM-listed company plans to expand the district cooling pipeline network in Jumeirah, which aligns with its objectives to develop infrastructure using the latest smart technologies.
Empower aims to meet the customers' growing demands from the commercial and residential sectors in Dubai.
The company also highlighted that the architectural design of the plant will match the general appearance of the area and the architectural identity of its buildings.
The new plant is expected to commence operation by the third quarter (Q3)of 2024, with a total cooling capacity of 48,000 refrigeration tonnes (RT).
Ahmad bin Shafar, CEO of Empower, said: “To keep pace with the growth of the area that hosts Burj Al Arab, an iconic landmark of Dubai, Empower is expanding its distribution network and building a new district cooling plant.”
“This will provide the luxurious hotels, resorts, and residential buildings in the area with reliable and efficient cooling services,” Bin Shafar added.
In the first half (H1) of 2023, Empower recorded net profits valued at AED 402.95 million, an annual drop from AED 431.71 million.
Basic and diluted earnings per share (EPS) declined to AED 0.40 in H1-23 from AED 0.043 in H1-22, while the revenues grew by 6.10% to AED 1.22 billion from AED 1.15 billion.
