Middle East Utilities
Summary
The Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, has signed an agreement to acquire the district cooling systems of Dubai International Airport, with a cooling capacity of 110,000 refrigeration tons (RT).
The deal is valued at Dh1.1bn, through a combination of internal accruals and debt financing from local and international banks with which Empower has close strategic relations.
Under the acquisition agreement, Empower will own and manage all the existing District Cooling infrastructure of Dubai International Airport, with all its facilities and complexes, with a capacity of up to 110,000 RT that include five units, and this capacity covers the equivalent of 11 times the consumption of Burj Khalifa, the world’s tallest tower.
“The deal is a part of the AED 25 billion Public-Private Partnership (PPP) project portfolio announced by the Government of Dubai’s Department of Finance (DOF) at the Dubai International PPP Conference which was held last month at the Expo 2020,” said Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority, Chairman of Dubai Airports, Chairman and Chief Executive of Emirates Airline & Group and the Chairman of the Dubai Supreme Council of Energy.
“With this acquisition, the Dubai Aviation City Corporation has made a big leap through its partnership with Empower, the global leader of the environmentally friendly district cooling industry and in adopting innovative technologies.”
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