Emirates Central Cooling Systems Corporation (Empower), listed on the Dubai Financial Market (DFM), announced strong growth in its network and services for the fiscal year 2023.

The details shared in its 2023 financial results statement are listed below.

Service expansion

  • The number of buildings serviced rose 4 percent year-on-year (YoY) to 1,522 in 2023.
  • The total length of the district cooling pipeline network exceeded 398 kilometres, an increase of 4.7% YoY.                                        
  • Residential buildings accounted for 64 percent of the total serviced projects, with commercial and office buildings making up 15 percent and hotel and hospitality sector representing 14 percent.
  • The health sector comprised 3 percent, while the remaining 4 percent was distributed across education, entertainment, shopping centres, and other sectors.

Key projects

  • Commenced operation of a 47,000 refrigeration tonnes (RT) capacity district cooling plant in the Dubailand residential complex
  • Awarded a contract worth 102 million UAE dirhams for the upgradation of Jumeirah Beach Residence (JBR) district cooling plant. The plant serves 76 towers, 9,000 residences, and 2,000 hotel units. The modernisation project is expected to be completed by 2025.
  • Awarded contracts to build a next-generation district cooling plant and expand the pipeline network in the Jumeirah Beach Hills area. The project will have a total capacity of 48,000 RT and serve residential and tourist destinations, including Burj Al Arab, Jumeirah Beach Hotel, Marsa Al-Arab, Madinat Jumeirah Living, Madinat Jumeirah, and Jumeirah Al Naseem Hotel
  • Started construction of reverse osmosis (RO) plants in 3 of the 8 district cooling plants on the Palm Jumeirah.
  • Signed an agreement with Sobha Properties to supply the Sobha Hartland project with district cooling services of up to 17,000 RT. The service will be provided to 8 buildings from the Meydan cooling plant and the expansion of the associated pipeline network.
  • Signed an agreement with Dubai Maritime City (DMC) to provide cooling services with a total capacity exceeding 63,000 RT.  Empower will build two plants and related distribution network to cater to 43 existing and upcoming buildings in the DMC in two phases.
  • Empower has started serving the Dubai International Airport with a total capacity of 110,000 RT valued at AED1.1 billion. Five district cooling plants and related assets were linked to Empower’s operational, production, distribution, and administrative systems as part of the deal.
  • Completed expansion and development of the district cooling infrastructure in Business Bay, with a total capacity of 450,000 RT spread across 6 district cooling plant rooms and 10 thermal energy storage tanks, including existing and upcoming facilities.

Read more: Dubai Empower's FY 2023 net profit slips to $259mln

(Writing by P Deol; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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