Empower CEO Ahmad bin Shafar Re-elected to IDEA Board for Sixth Term
Ahmad bin Shafar, CEO of Emirates Central Cooling Systems Corporation (Empower), has been re-elected to the Board of Directors of the International District Energy Association (IDEA) for the sixth consecutive term.
In a significant development for the global district cooling industry, Ahmad bin Shafar, CEO of Emirates Central Cooling Systems Corporation PJSC (Empower), has been re-elected to the Board of Directors of the International District Energy Association (IDEA) for the sixth consecutive term. This reappointment, announced during the 115th edition of the IDEA Annual Conference & Trade Show, underscores bin Shafar's influential role in the industry and his commitment to sustainable energy solutions.
Empower, known as the world's largest district cooling services provider, continues to make strides under bin Shafar's leadership. Established on 23 November 2003, the company has grown exponentially, becoming a cornerstone of Dubai's green energy initiatives. Bin Shafar's reappointment is a testament to his exceptional contributions to the industry, including his advisory role with the United Nations Environment Programme (UNEP).
Bin Shafar's journey with IDEA began in 2013, making him the first Arab Emirati to hold a senior position within the organization. IDEA, a non-profit headquartered in the USA, boasts over 2,500 members from both public and private sectors worldwide. Bin Shafar's re-election reflects his professional performance and dedication over the past decade, further solidifying his status as a key figure in the global district cooling landscape.
In his statement, bin Shafar expressed his gratitude and determination to continue serving the UAE and Dubai. He emphasized the importance of green systems, technologies, and projects that conserve energy and protect natural resources. His leadership at Empower has not only driven the company's local and global success but also set a benchmark for excellence in the district cooling industry.
With a market cap of AED 16.2 billion, Empower's robust performance and strategic direction under bin Shafar's leadership position it well for future growth. His renewed tenure at IDEA is expected to further enhance Empower's influence and foster greater collaboration in the global district cooling sector.
For investors, the reappointment of bin Shafar to the IDEA Board is a positive signal. It reinforces Empower's leadership in the industry and its commitment to sustainable practices. However, given the current market conditions and the company's stable performance, a 'hold' recommendation is prudent. Investors should monitor the company's progress and strategic initiatives closely to make informed decisions.
Source
Summary
Ahmad bin Shafar, CEO of Emirates Central Cooling Systems Corporation (Empower) and Chairman of Dubai's District Cooling Operators Association, has been re-elected for the sixth consecutive term to the Board of Directors of the International District Energy Association (IDEA). Bin Shafar, who first joined the IDEA Board in 2013, is the first Arab Emirati to hold a senior position in the organization. His reappointment was announced during the 115th IDEA Annual Conference & Trade Show. The recognition comes in light of his achievements in the district cooling industry, his global support for district cooling deployment, and his professional performance over the past decade. Bin Shafar has also been honored as a Special Advisor on district cooling to the United Nations Environment Programme (UNEP). He expressed his commitment to continue serving in this role, emphasizing the importance of green systems and sustainable energy projects.
