Emirates Central Cooling Systems Corp. - EMPOWER

Activities

Emirates Central Cooling Systems Corporation, commonly known as Empower, is a prominent company in the United Arab Emirates (UAE) that specializes in providing district cooling services (DCS). Empower was established in 2003 with a specific objective: to enable the real estate sector to efficiently utilize energy resources through District Cooling Services. It operates as a joint venture between Dubai Electricity and Water Authority (DEWA) and TECOM Investments. Empower primarily offers district cooling services to developments in Dubai and the surrounding regions. District cooling involves centralized cooling plants that supply chilled water to multiple buildings within a district. It is an energy-efficient alternative to individual air conditioning systems. Empower plays a crucial role in enhancing energy efficiency, reducing environmental impact, and promoting sustainable practices in the UAE's real estate sector. By providing centralized cooling solutions, Empower contributes to lowering energy consumption and greenhouse gas emissions. Empower has successfully implemented several large-scale district cooling projects across Dubai. Its services cater to a diverse clientele, including commercial, industrial, and residential customers. Empower's commitment to energy efficiency and sustainable practices aligns with Dubai's vision for a greener and smarter future. On 14 October 2022, the legal status of the Company was amended to a Public Joint Stock Company through Decree No. 22 of 2022 issued by the Ruler of Dubai. EMPOWER was listed on the Dubai Financial Market, on 15 November 2022, by listing 20% of its share capital. As a result, DEWA and Emirates Power Investment LLC's interest was diluted to 56.0% and 24.0% respectively.