Wednesday , March 3 2021

“Empower”: 4 Upcoming Gulf and Arab Acquisitions and Expansions – Economic – UAE Economy



The Emirates Central Cooling Systems Corporation (Empower) has concluded negotiations with international partners to expand soon in Saudi Arabia, Bahrain and Egypt and has completed the procedures for 4 takeover bids that will raise the number of its refrigeration stations in the world. district to 100 stations. His details will be released soon, according to statements made to reporters yesterday by Ahmed Bin Shafar, CEO of Empower, who stressed the strength of the institution’s financial solvency, so that the scenarios to make public the financial market will be locked in drawers.

Empower, the world’s largest district refrigeration service provider, announced yesterday that it recorded 901 million dirhams in net profits, up 3.4%, and total revenue of 2.262 billion, up 3% during the year. 2020.

Objectives and challenges

Bin Shafar said 2020 was a challenging year and despite its difficulty, the corporation has managed to achieve higher sustainable returns than its peers over the past year and has continued to develop its infrastructure, human and technology throughout the year. . 5 refrigeration stations were completed, reaching 84 and the length of its refrigeration service transmission networks to 350.4 kilometers. The number of projects provided by the Corporation with district cooling services increased to more than 1,252 buildings at the end of last year, with more than 140,000 customers.

The production capacity of refrigeration services at the end of 2020 reached more than 1,640,000 tons of refrigeration (equivalent to the annual consumption of 164 towers the size of Burj Khalifa) to serve huge urban multipurpose projects covering residential, commercial sectors. and hotels, hospitals, educational and university buildings, shopping malls and others. Highlights include Dubai Waterfront, Bluewaters Island, Jumeirah Group, Jumeirah Beach Residence, Dubai International Financial Center, Business Bay, Dubai Healthcare City, Jumeirah Lakes Towers, Palm Jumeirah, Discovery Gardens, Ibn Battuta Mall, Dubai Design District, And the Global Media Production Zone and others. He noted that the corporation’s goal in 2021 is to significantly expand the number of district refrigeration service stations and service transmission network extensions to include all areas of Dubai.

He added that the corporation deals with natural resources with high responsibility and has wanted to record the saving of electricity, which reached more than 1,312 megawatts by the end of 2020, and the total value of the electricity supply of the corporation amounted to 3.4 billion dirhams, in addition to saving 349 million gallons of water.

He noted that the Corporation reduced the rates of additional fuel surcharges by approximately 25% as of December 1, 2020, in line with the initiative of the Dubai Supreme Energy Council.

Contracts and networks

Bin Shafar said that in 2020 he witnessed the completion of 5 cooling plants and the launch of operations at the Mirdif plant in Dubai to provide residents of “Group” buildings with district-friendly cooling cards. the environment designed with international environmental standards that save 30% of the construction cost, with a capacity of 18,500 RT.

During 2020, the Corporation signed contracts worth 1.390 billion dirhams, which included the construction of district cooling plants, the expansion of its pipeline network, contracts to establish thermal energy exchange rooms, and other works.

This included contracts worth 255 million dirhams to expand the district’s cooling network to Dubai Production City, Business Bay, Barsha Heights, the Dubailand Residence complex, the Dubai Financial Center and the Dubai International Arbitration Center. It also awarded contracts worth 90 million dirhams to build heat exchange rooms in various district cooling projects during the year; The value of contracts to upgrade control devices and systems amounted to about 185 million dirhams.

The Jumeirah village cooling network was expanded by connecting the two areas of the Jumeirah village circle and the Jumeirah village triangle, with a capacity of 260,000 RT. It is expected to be linked to the company’s six stations in the region. Empower provided district cooling services to several destinations in 2020, most notably Ain Ain on Bluewaters Island, Avani Palm View Dubai Hotel and Suites and 3 metro stations in Dubai 2020.

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In line with the growth of its operations, Empower increased its human resources to more than 845 employees. The total location percentages of the various functions of the institution reached 15% (45% of senior management positions and 40% of intermediate mandates).

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