Empower report substantial profit increase

Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, reported a net profit of AED871 Mn in 2019, representing a remarkable increase of 8.3% year-over-year (YoY). The company has achieved a total revenue of AED2.19 Bn an increase of 7.9% YoY.

Commenting on Empower’s financial results at the annual press conference, Ahmad Bin Shafar, CEO of Empower, said: “2019 has been a milestone year for Empower, given the remarkable net profit increase, in addition to the significant expansion in number of district cooling plants, district cooling pipeline network, customer base and the number of buildings connected with our district cooling services.”

The number of buildings that Empower provides with it’s district cooling services exceeded 1,180 and the customer base has reached to more than 120,000. The total cooling capacity has reached 1,530,000 Refrigeration Tons (RT) during 2019 that covered various projects, such as Deira Waterfront, Blue Waters, Jumeirah Group, Jumeirah Beach Residence, Dubai International Financial Centre, Business Bay, Dubai Healthcare City, Jumeirah Lake Towers, Palm Jumeirah, Discovery Gardens, Ibn Battuta Mall, Dubai Design District and International Media Production Zone, amongst others.

“Empower has saved a total of 1,224MW electricity worth AED 3.2 Billion as of the end of 2019,” Bin Shafar remarked.
On the sidelines of the press conference, Bin Shafar also said: “We are proud of what our achievements in terms of increased number of district cooling plants that has reached 79 plants across Dubai, including the world’s first unmanned district cooling plant, along with having the largest district cooling network.”

“Empower is committed to achieving its strategic plans and supporting its customers and real estate developers, by providing efficient and high quality services based on our clear vision to meet the growing demand for eco-friendly district cooling services as per the highest international standards,” he added.
“We will continue our endeavors in 2020 to increase the number of district cooling plants and expand our district cooling network across Dubai,” he concluded.