Empower Reveals AED871 Million Net Profit in 2019, 8.3% Growth

By District Energy posted 01-27-2020 11:44


Emirates News Agency


Emirates Central Cooling Systems Corporation (Empower) reported a net profit of AED871 million in 2019, representing a remarkable increase of 8.3% year-over-year (YoY). The company has achieved a total revenue of AED2.19 billion 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.

Read Official Press Release