Emirates Central Cooling Systems Corporation PJSC

Emirates Central Cooling Systems Corporation PJSC (EMPOWER) reported AED 1,352 million in revenue for the first half of 2024, a 10.3% increase compared to H1 2023. The company's EBITDA for the same period was AED 693 million, reflecting a 6.0% growth. Profit before tax reached AED 428 million, up 6.3% from the previous year, with a net profit after tax of AED 390 million for the six months ending June 30, 2024. CEO Ahmad Bin Shafar attributed the robust financial performance to the rising adoption of environmentally friendly cooling systems by real estate developers and building owners. Additionally, increasing occupancy rates in Dubai's real estate projects and the expansion of Empower’s portfolio with new projects have driven demand for the company's services. Empower’s diverse customer base spans residential, commercial, healthcare, hospitality, retail, education, entertainment, and other sectors.

Emirates Central Cooling Systems Corporation PJSC (Empower), the world's largest district cooling services provider, announced its strategic sponsorship for the 26th edition of the Water, Energy, Technology and Environment Exhibition (WETEX 2024). The event will take place at the Dubai World Trade Centre from October 1 to 3, 2024. Empower will showcase its innovative district cooling solutions at this globally recognized platform for sustainability and clean energy. Ahmad Bin Shafar, CEO of Empower, highlighted that WETEX, organized annually under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, has become a significant global exhibition in the water, environment, and energy sectors. The event offers a unique platform for integration across the energy sector and promotes the UAE and Dubai's efforts in renewable and clean energy, aligning with the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy 2050. Bin Shafar emphasized Empower's commitment to supporting WETEX for its role in spreading modern technologies, promoting environmental protection, and raising awareness about energy and water conservation. The exhibition serves as a global platform to showcase innovative cooling solutions, advocate for energy-efficient and environmentally friendly district cooling systems, and discuss sustainable development, green economy, and solar energy. It also provides opportunities for investors, decision-makers, and institutions to form strategic partnerships, exchange experiences, and explore the latest technologies and market needs.

Emirates Central Cooling Systems Corporation (Empower), the world's largest district cooling services provider, hosted a technical study tour on district cooling in Dubai, organized by the United Nations Environment Program (UNEP) on July 15th and 17th, 2024. The tour included high-level delegates from the governments of Tunisia, Morocco, and Punjab (Pakistan), with funding support from the Government of Italy. The event, part of the UNEP-led Cool Coalition, featured workshops, training, and discussions on district cooling in Dubai and Abu Dhabi. Participants included UNEP representatives, Empower's management team led by CEO Ahmad bin Shafar, and virtual participation by Rob Thornton, President and CEO of the International District Energy Association (IDEA), among others. The tour also included a visit to Empower's district cooling plant in Dubai's Business Bay area to demonstrate the practical operations and the integration of AI and advanced technologies in district cooling. The initiative reflects UAE's and Dubai's commitment to sharing expertise for a better global future.

Emirates Central Cooling Systems Corporation PJSC (Empower) has launched a Summer Campaign to encourage customers in Dubai to reduce their cooling energy consumption and bills. The campaign aims to educate consumers on the importance of energy conservation, the high costs associated with producing and delivering energy, and the benefits of efficient cooling practices. Empower's CEO, Ahmad bin Shafar, highlighted that the campaign includes eight practical tips for consumers, such as setting the AC thermostat to 24°C, keeping filters clean, and sealing window cracks. The initiative aligns with Dubai's goals to reduce electricity and water consumption and become a global hub for the green economy by 2050. Empower emphasizes the role of responsible consumer behavior in preserving natural resources and protecting the environment.

Empower's Business Bay 05 district cooling plant in Dubai has received a LEED Gold rating from the United States Green Building Council (USGBC). This recognition highlights the plant's adherence to LEED standards and marks the sixth such award for Empower, following similar accolades for other plants. Empower's CEO, Ahmad Bin Shafar, emphasized the company's commitment to environmental protection, carbon footprint reduction, and sustainable innovation. The Business Bay 05 plant utilizes advanced technologies, including Thermal Energy Storage (TES) and Treated Sewage Effluent (TSE), to enhance energy efficiency and reduce freshwater consumption.

Emirates Central Cooling Systems Corporation PJSC (Empower), the world's largest district cooling services provider, won four awards at the International District Energy Association Annual Conference and Exhibition (IDEA2024) in Orlando, USA. The awards included two Innovation Award Honorable Mentions for Integrated Metering Solutions and Chiller Efficiency Improvement at Business Bay 02, and two IDEA Gold awards for the number of buildings committed and the total building area committed. The conference, themed "District energy for Sustainable Cities," featured delegations from over 30 countries. Empower's CEO, Ahmad bin Shafar, highlighted Dubai's early investment in district cooling and its global recognition for addressing climate change challenges. Empower has previously won the same gold awards multiple times and has accumulated over 20 various awards in different categories at international events. Bin Shafar emphasized Empower's role in advancing the district cooling industry globally, focusing on energy and cost savings, resource protection, and the adoption of technologies from the fourth Industrial Revolution.

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.