Emirates Central Cooling Systems Corporation (Empower) has signed an agreement with Meydan City Corporation to provide district cooling services (DC) for Meydan master community, a major mixed-use development project in Dubai.
As per the deal, Empower will cater to the 750 existing and upcoming buildings within Meydan master community providing 382,000 refrigeration tons (RT) district cooling and acquire an existing DC plant worth AED100 million ($27.2 million).
The agreement was signed by Ahmad Bin Shafar, CEO of Empower, and Issam Galadari, CEO of Meydan City Corporation, in the presence of Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority, Chairman of Dubai Airports and Emirates and Chairman of the Dubai Supreme Council of Energy.
Under this deal, the Dubai group will provide the entire Meydan master community with its environment-friendly DC services to meet the needs of the existing and upcoming projects including Meydan One, Meydan Avenue and Royal Pearl, MBRAMC – District 1, Medan Horizon and Meydan Business Park. Currently, Meydan Racecourse projects, which include Meydan Boat House, The Gallery, Meydan Hotel, Meydan Receiving Barn, DHL Building and others, are being supplied with district cooling energy through the existing DC plant with a total capacity of 45,000 RT, of which, 25,000 RT are connected to these projects.
According to Empower, the new acquisition deal reflects company’s plans for the future of district cooling sector, represents a qualitative surge in the growth of the company and its projects portfolio, features an expansion of its services and an increase in its market share in Dubai to reach 79.5 per cent.
In addition, Empower is set to invest more than AED1.6 billion to build four district cooling plants and construct the pipeline network in the development to meet the demand for energy-efficient DC services.