Empower acquires district cooling plants at Dubai International Airport for 1.1 billion dirhams
In the presence of His Highness Sheikh Ahmed bin Saeed Al Maktoum, President of the Dubai Civil Aviation Authority, President of Dubai Airports, Chief Executive Officer of Emirates Airlines and Group, and Chairman of the Dubai Supreme Council of Energy, the Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, signed An agreement to acquire district cooling plants of Dubai International Airport, with a total cooling capacity of 110,000 refrigeration tons, with a total value of 1.1 billion dirhams, self-financed and through local and international banks with which Empower has close strategic relations.
The signing of the agreement was witnessed by Saeed Mohammed Al Tayer, Managing Director and CEO of Dubai Electricity and Water Authority, and Chairman of the Board of Directors of the Emirates Central Cooling Systems Corporation (Empower).
The acquisition agreement was signed by Ahmed bin Shafar, CEO of the Emirates Central Cooling Systems Corporation (Empower), and HE Khalifa Al Zaffin, CEO of Dubai Aviation City Corporation.
The acquisition agreement stipulates that the Emirates Central Cooling Systems Corporation “Empower” owns and manages all district cooling plants of Dubai International Airport, with all its facilities and complexes, with a capacity of up to 110,000 refrigeration tons, which are 5 plants, and this capacity covers the equivalent of the consumption of Burj Khalifa highest in the world. world 11 times.
His Highness Sheikh Ahmed bin Saeed Al Maktoum, President of the Dubai Civil Aviation Authority, President of Dubai Airports, Chief Executive Officer of Emirates Airlines and Group, and Chairman of the Dubai Supreme Council of Energy, said: “This agreement is the first fruit of the portfolio of public-private partnership projects announced by the Government of Dubai. Dubai, with a value of 25 billion dirhams, which was announced during a conference organized by the Department of Finance in the Government of Dubai last month and held at the site of Expo 2020. His Highness explained that “Dubai Aviation City Corporation” has taken a great step in its path through its partnership with “Empower” that preceded its peers. In the environmentally friendly district cooling industry and its use of innovative technologies to consolidate its global leadership, which supports the Dubai Aviation City Corporation in continuing the successes of its ambitious strategy emanating from the UAE Vision 2021 to achieve sustainable growth and Dubai’s unique vision in promoting the values and standards of sustainability and preserving the environment.Based on the leading global position enjoyed by the emirate, which aims to accelerate the pace of development by strengthening partnerships, using modern technologies and adopting innovation in all its pioneering activities.
Saeed Mohammed Al Tayer, Managing Director and CEO of Dubai Electricity and Water Authority and Chairman of the Emirates Central Cooling Systems Corporation (Empower), said: "The acquisition agreement is in line with the vision and directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, The Ruler of Dubai, in consolidating Dubai’s global position on the map of sustainable development, and an effective link in the Dubai Strategy for Energy and Water Demand Management 2030, of which district cooling is one of the most prominent pillars.The acquisition agreement formulates a new concept of partnership between the two parties and transfers its investment outputs to a space that includes protecting the environment and natural resources, promoting the establishment of environmentally sustainable communities throughout the emirate, and recording unprecedented levels of performance in raising the efficiency of the energy sectors, especially with regard to standards to meet the growing demand for district cooling services, which is This is mainly in line with Dubai's vision to be one of the most sustainable cities in the world.
He stressed that Empower, with all its leadership, innovative technologies and quality of expertise in the environmentally friendly district cooling industry, is proud of its partnership with Dubai Aviation City Corporation, as it is a major player in the global aviation industry, and plays a highly professional role in the economic development of the Emirate of Dubai, and to confirm Empower and its leadership to the district cooling industry locally, regionally and globally, and the growth and prosperity of the industrial sector in Dubai, whether it is rich in investment opportunities or its ability to permanently develop and expand the scope of investment activities related to the present and future of the vital district cooling sector.
Khalifa Al Zaffin, CEO of Dubai Aviation City Corporation, said, "We are very proud of what we have achieved within the "Dubai Aviation City" group and our contribution to making Dubai the first global aviation center and the largest international airport in the world.
This strategic partnership with Empower is a testament to our ambition to provide streamlined operations at Dubai International Airport and to continue the path of growth and development, and I am sure that Empower will serve Dubai International Airport to the highest standards.
For his part, CEO of the Emirates Corporation for Central Cooling Systems "Empower" Ahmed bin Shafar said that the corporation views the acquisition agreement as a long-term partnership with a long-standing institution that has development and economic weight, and at the same time it is a great responsibility borne by the work teams and cadres of "Empower".
He explained that Empower's superiority and leadership in the district cooling industry and its leadership in this industry globally and its remarkable success in adopting unprecedented technology in operation, production and provision of services made it unique in strategic partnerships with the largest institutions and mega projects, the latest of which is Dubai International Airport with all its facilities and complexes, which is one of the busiest airports. For international travel globally, it handled 25.9 million passengers last year and 86.4 million in 2019, and aims to handle about 56 million for the next year.
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