Empower Awards Contract for New Cooling Plant in Jumeirah Village

Emirates Central Cooling Systems Corporation PJSC (Empower), the world's largest district cooling services provider, has taken a significant step in its expansion journey by awarding a contract to design its second district cooling plant in Jumeirah Village, Dubai. This new development is a part of Empower's strategic plans to meet the increasing demand for sustainable cooling solutions in the region.

The new plant, which is scheduled to begin construction in the first quarter of 2025, will be a vital addition to the Jumeirah Village project. This project is one of the largest district cooling initiatives undertaken by Empower, with plans to establish six next-generation plants to serve the growing community. The combined cooling capacity of these plants will be an impressive 256,000 tons.

Jumeirah Village itself is strategically located in the heart of New Dubai, covering two distinct areas: Jumeirah Village Circle (JVC) and Jumeirah Village Triangle (JVT). These areas span 560 hectares and 242 hectares, respectively. The new plant will join the existing world's first unmanned district cooling plant, which currently supplies cooling to approximately 114 buildings with a production capacity of 49,000 refrigeration tons (RT).

The upcoming plant will feature cutting-edge cooling technologies designed to optimize energy efficiency and minimize water consumption. With a production capacity of approximately 37,000 RT, it will cater to a diverse range of properties, including residential buildings, commercial complexes, hotels, and other facilities within the Jumeirah Village development.

His Excellency Ahmad Bin Shafar, CEO of Empower, emphasized the importance of this project, stating, 'Jumeirah Village is witnessing a surge in investor interest in developing multi-use buildings. The awarding of this new contract aligns with our strategic plans to address the growing demand for sustainable district cooling services. Empower is well-positioned to meet the future needs of the Jumeirah Village community.'

He added that the design of the new plant is meticulously crafted to complement existing facilities by adhering to the highest global standards and green building specifications. It will integrate seamlessly with Dubai's modern urban and architectural identity, improving resource efficiency to reduce the impact of buildings on human health and the environment throughout their life cycles. This aligns with the UAE's efforts to transition towards a sustainable green economy, fulfill its national pledges and commitments to confront climate change, and support the 'Smart Dubai' initiative, which aims to make Dubai the smartest and happiest city in the world.

Given Empower's strong track record and strategic alignment with Dubai's sustainability goals, the future looks promising for the company. Investors should consider this development as a positive indicator of Empower's growth potential and its commitment to sustainable practices. Therefore, the recommendation is to buy Empower's stock, as the company continues to expand its footprint and meet the increasing demand for district cooling services.