Dubai, UAE — Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, has acquired the right to solely operate Dubai International Airport’s district cooling systems.
The airport’s cooling systems have a total capacity of 110,000 refrigeration tons (RT), equivalent to 11 times the consumption of Burj Khalifa, the world’s tallest tower, valued at AED 1.1 billion.
These plants will be integrated into Empower’s operational, production, distribution, and administrative systems as per the terms of the acquisition deal concluded at the end of 2021, Empower said.
With the addition of Dubai International Airport, Empower’s district cooling portfolio now includes projects such as Dubai International Financial Centre, Dubai World Trade Centre, Dubai Healthcare City, Meydan City, Dubai Studio City, Dubai Maritime City, Dubai Land, Palm Jumeirah, JBR, Bluewaters Island, Business Bay, and other skyscrapers and mega projects across Dubai.
Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Airports, acknowledged the successful strategic partnerships between the government and private sectors in Dubai, highlighting their role in establishing the city as a distinct model. He emphasized the significance of these partnerships in driving Dubai’s economic growth and prosperity, reaffirming the emirate’s commitment to further strengthen them.
Empower recently reported the first quarter revenue of AED494 million ($134 million) and a 5.7 percent YoY growth in net profit to AED191.6 million.
For the last twelve months (Apr 2022 to Mar 2023), the company’s consolidated revenue was AED 2.82 billion, compared to AED 2.53 billion (Apr 21 to Mar 22), showing a growth of 11.5 percent.
The EBITDA for the similar periods was AED1.40 billion (Apr22 to Mar23) compared to AED1.26 billion (Apr21 to Mar22), with a growth of 11.1 percent.
The company attributed the first quarter growth to a rise in demand for its services across various regions of Dubai, particularly from newly added mixed-use projects to Empower’s portfolio, and a surge in production and operational capacity during the first quarter of this year.