Dubai – Mubasher: Emirates Central Cooling Systems Corporation (Empower) announced a record increase of 54% in the volume of consumption of its district cooling services over the past five years.
The use of district cooling services jumped 16% year-on-year (YoY) in 2023, according to a press release.
Empower's share of Dubai's district cooling market has surpassed 80% by the end of last year on the back of the high demand in Dubai.
The company attributed the surge in demand for district cooling service in the emirate to the high occupancy rates in existing real estate projects and a significant increase in the new mixed-use projects.
Ahmad bin Shafar, CEO of Empower, said: “We continue to boast our production capacity and increase the efficiency of district cooling systems and distribution networks. This ensures we meet the growing demand for district cooling services and cater to the future needs of customers, developers, and business sectors."
He added: "Empower continues to expand the scope of its services and develop its unique business model to keep fulfilling its vital mission of providing environmentally friendly district cooling services in Dubai and contributing to protecting resources, environment and climate in the UAE and globally.”
It is worth noting that Empower posted a net profit of AED 960.08 million in 2023, down from AED 1 billion in 2022.
