The company, 40% owned by ENGIE, is betting on geothermal energy to cool urban areas, with a pioneering site now operational in Abu Dhabi.
Given the exceptional heatwaves of recent weeks and growing awareness of the devastating effects of global warming, the carbon footprint of cooling is once again in the spotlight. Widely used individual air conditioners are being criticized for three main reasons: their high electricity consumption, especially during peak heat hours; refrigerant leaks, which drastically increase greenhouse gas emissions; and the continuous release of hot air into public spaces, which intensifies the urban heat island effect.
In dense urban areas, district cooling networks are emerging as a promising alternative for cooling buildings. According to a study by Fortune Business Insights, the global market could grow from 27 billion US dollars in 2023 to nearly 48 billion dollars by 2032—an average annual growth rate of close to 8%. The Middle East is seen as a priority market, as its extremely high average temperatures increase the demand for such solutions.
Tabreed, a company 40% owned by Engie, has developed the region’s first geothermal-powered district cooling plant. The site, called G2Cool, was commissioned at the end of 2023, just in time for COP28 in Dubai.
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