Empower Partners with DMCC for Uptown Dubai Cooling
Empower and DMCC have signed a pivotal agreement to provide sustainable cooling to Uptown Dubai.
Summary
Empower has partnered with DMCC to supply sustainable cooling services to the next phase of Uptown Dubai, reinforcing its role in environmentally friendly infrastructure.
Emirates Central Cooling Systems Corporation PJSC (Empower), the world’s largest district cooling services provider, has announced a significant partnership with Dubai Multi Commodities Centre (DMCC). This strategic agreement will see Empower supplying the next phase of Uptown Dubai with sustainable district cooling services, boasting a capacity of 24,675 refrigeration tons (RT).
The signing ceremony took place at DMCC's headquarters in Uptown Tower, attended by Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC, and H.E. Ahmad Bin Shafar, CEO of Empower. This collaboration is set to enhance Uptown Dubai, a smart district designed as a mixed-use urban destination, featuring eight planned mixed-use towers and a range of retail, dining, and luxury hospitality options.
Empower's commitment to sustainability is evident in its JLT District Cooling project, which includes four plants with a total designed capacity of 152,000 RT. These plants are equipped with advanced smart production and operation systems, ensuring they are ready to meet the demands of new projects, boosting investor confidence in Empower's environmentally friendly services.
H.E. Ahmad Bin Shafar emphasized the partnership's significance, stating, 'We are proud to sign this agreement with DMCC to supply the next phase of Uptown Dubai with environmentally friendly district cooling services. This partnership reflects our commitment to providing innovative and sustainable district cooling solutions that help reduce carbon emissions and support the UAE’s national sustainability goals.'
Given the strategic importance of this partnership and Empower's leading position in the district cooling industry, the outlook for the company's growth remains promising. However, considering the current market conditions and Empower's neutral future outlook, investors might consider holding their position in the company to observe how this partnership unfolds and contributes to Empower’s long-term growth.
Source
Summary
Emirates Central Cooling Systems Corporation PJSC (Empower), the largest provider of district cooling services globally, has entered into an agreement with the Dubai Multi Commodities Centre (DMCC) to supply environmentally friendly district cooling services to the next phase of Uptown Dubai. This phase will have a capacity of 24,675 refrigeration tons. The signing took place at DMCC's headquarters, with key figures from both organizations present. Uptown Dubai is a smart district featuring mixed-use towers and various amenities, strategically located in the southern part of Dubai. Empower's JLT District Cooling project, which includes multiple plants and a comprehensive pipeline network, is designed to support new projects, enhancing investor confidence in their sustainable services. Empower's CEO, Ahmad Bin Shafar, highlighted the importance of the partnership in contributing to sustainability goals and reducing carbon emissions.
