Empower links district cooling service to One Za’abeel tower
DUBAI, 2 days ago Emirates Central Cooling Systems Corporation (Empower) has announced that it has connected One Za’abeel, a mixed-use luxury project developed by Ithraa Dubai, to its district cooling network serving a total of 9,600 refrigeration tons (RT). Centrally located and adjacent to the Dubai World Trade Centre, One Za’abeel comprises three key components - Towers A and B and ‘The Link’, one of the longest cantilevered structures in the world, which bridges the towers at a height of 100 m. The project was connected to Empower network under a MoU that was signed in September 2018 by Ithraa Dubai and Empower, to supply ‘One Za’abeel’ with environmentally friendly district cooling services.
Emirates Central Cooling Systems Corporation (Empower) said its key initiative to convert all its customers transactions into high-quality digital services is progressing at a steady pace and the company will soon accomplish its set targets.
Emirates Central Cooling Systems Corporation (Empower) said it will be distributing AED400 million ($109 million) in cash dividends to its shareholders for 2020. This represents 45 per cent of the total net profit of AED901 million ($245 million).
Empower seals wasl district cooling services contract
DUBAI, January 25, 2021 Emirates Central Cooling Systems Corporation (Empower) said it has signed an agreement with wasl Asset Management Group, one of the largest real estate development and management companies in Dubai, to supply its mixed-use development, wasl1, with 24,373 Refrigeration Tons. Currently being carried out on several phases, the project is located in proximity to Sheikh Zayed Road and Al Jafiliya Metro Station with views on Zabeel Park. A key project, wasl1 will feature 13 residential towers, of which the first phase - Park Gate Residences - comprises four towers consisting of 746 residential units that have been completed and handed over.
Empower’s net profit up 3.4%
23 Jan 2021 Empower posts increase in customer base as well as in the number of buildings connected to the company’s district cooling services. Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, reported a net profit of Dhs901 million with a total revenue of Dhs2.26 billion in 2020. Empower’s revenues grew by 3.0 per cent with a net profit increase of 3.4 per cent year-over-year (YoY), a commendable performance given the difficult economic conditions resulting from the global pandemic.
Commenting on Empower’s financial results at the annual press conference, Ahmad Bin Shafar, CEO of Empower, said: “2020 has been another successful year for Empower, with growth in its financial as well as operational performance, which is clearly evident from increase in revenues and net profit, additions in the number of district cooling plants, expansion of district