Latest news with #AhmadBinShafar
Zawya
3 days ago
- Business
- Zawya
Ahmad Bin Shafar continues representing the region globally on the board of directors of the International District Energy Association
Dubai, United Arab Emirates: In a further testament to the UAE's leadership in the district cooling sector, H.E. Ahmad Bin Shafar, CEO of Emirates Central Cooling Systems Corporation PJSC (Empower), continues to play a global role by retaining his position as Member Emeritus on the Board of Directors of the International District Energy Association (IDEA) for the seventh consecutive term. IDEA is the world's leading organization in the field of district energy. Bin Shafar's continued membership reflects recognition of his outstanding contributions to the advancement of the district cooling industry both regionally and globally. It also highlights his key role in sharing best practices from the UAE on international platforms and reinforcing the nation's position as a global hub for sustainable cooling solutions. This achievement marks a continuation of the long-standing partnership and collaboration between Bin Shafar and IDEA, during which the industry has undergone major transformations toward greater efficiency and sustainability. His leadership has been instrumental in shaping policies, guiding strategic discussions, and fostering collaboration among stakeholders around the world. H.E. Ahmad Bin Shafar said: 'It is an honor to continue serving the district cooling sector through this membership, which I consider an added responsibility to enhance our region's role in shaping the future of energy efficiency. District cooling has become both an environmental and economic necessity, and my role within IDEA reflects our ongoing commitment to enriching communities through innovative and environmentally friendly cooling solutions.' This announcement comes at a time when global demand for efficient, energy-saving cooling solutions is rising amid climate change and global warming. District cooling technologies play a significant role in reducing electricity consumption, lowering carbon emissions, and delivering substantial long-term economic benefits. It is worth noting that the International District Energy Association, headquartered in the United States, includes among its members a distinguished group of companies, institutions, and public and private sector entities from around the world. The association plays a key role in knowledge sharing and in promoting the adoption of district cooling and heating systems as part of the transition toward sustainable cities. Through his reappointment, H.E. Ahmad Bin Shafar continues to elevate the UAE's presence on the global stage, reaffirming the commitment of its wise leadership to supporting national talent and enabling them to help shape the future of vital sectors worldwide.
Hi Dubai
12-05-2025
- Business
- Hi Dubai
Empower Reports AED540 Million in Q1 Revenue as Expansion Drives Steady Growth
Emirates Central Cooling Systems Corporation PJSC (Empower), the world's largest district cooling provider, posted AED540 million in revenue for Q1 2025, a slight increase of 0.4% compared to the same period last year. The company also reported AED145 million in net profit after tax and AED297 million in EBITDA, underlining its sustained performance amid ongoing expansion. CEO Ahmad Bin Shafar attributed the results to Empower's strategic growth and strong demand for eco-friendly cooling services across Dubai's real estate sector. 'Our continued expansion and high service standards have positioned us as the preferred provider for developers and property owners,' he said. The first quarter saw Empower sign 46 new contracts to deliver over 43,000 refrigeration tons (RT), pushing its total contracted capacity beyond 1.81 million RT. The company also added more than 15,000 RT in connected capacity, with 19 new buildings integrated into its network. Notable agreements included supplying The Island Resort with 23,853 RT starting Q1 2028, Uptown Dubai with 24,675 RT, and the Palm Gateway project with 9,470 RT from Q2 2026. Empower processed over 224,000 online bill payments in Q1, a 7% year-on-year increase, and saw a 22% rise in new customer registrations. The company also approved more than 11,000 NOC service requests, up 8% from last year. On the global stage, Empower participated in the IDEA Campus Energy 2025 Conference in Boston, where Bin Shafar met with IDEA leadership to discuss Dubai's upcoming hosting of the District Cooling Conference. For the 12-month period ending March 2025, Empower reported AED3.26 billion in revenue, up 6% year-on-year, and AED1.53 billion in EBITDA. The company also approved a second-half 2024 dividend of AED437.5 million. News Source: Emirates News Agency
Zawya
12-05-2025
- Business
- Zawya
Empower reports $147mln in Q1 2025 revenue
DUBAI: Emirates Central Cooling Systems Corporation PJSC – Empower, the world's largest district cooling services provider, announced its financial results for the first quarter of 2025. The company reported a total revenue of AED540 million, representing a 0.4 percent increase compared to the same period in 2024, and EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) of AED297 million. Empower also reported a pre-tax net profit of AED159 million and the Net Profit after tax amounted to AED145 million for the quarter ended 31 March 2025. Ahmad Bin Shafar, CEO of Empower, commented: "The sustainable growth during the first quarter of this year is a direct result of our strategic expansion in key projects, combined with Empower's expertise in maximising the value of its growing footprint in the district cooling market. We have successfully added an increasing number of real estate projects across various sectors into our extensive portfolio, driving high demand for our services, which have become the preferred choice for both building owners and end-users.' 'Empower remains firmly committed to expanding its asset base, including plants and distribution networks, to meet the rising demand and further strengthen its market share, ensuring sustainable, long-term returns," he added. Bin Shafar emphasised that Empower's financial results are a cornerstone of its continued global leadership in the district cooling market. He noted that these results reaffirm the company's outstanding ability to meet increasing demand with service standards that exceed international benchmarks, supported by high operational readiness and the robust capacity of its extensive asset base. Bin Shafar affirmed that Empower's efforts to capitalise on real estate momentum and broader economic growth, alongside continued investment in expanding its asset portfolio and infrastructure, are key drivers in delivering enhanced value, rewarding returns, and sustainable growth for shareholders. According to the company's financial statements, Empower reported consolidated revenues of AED3.26 billion for the twelve-month period from April 2024 to March 2025, compared to AED3.08 billion between April 2023 to March 2024, reflecting an impressive growth of 6 percent. Additionally, company's EBITDA for the last twelve months reached AED1.53 billion, compared to AED1.49 billion for the period April 2023 to March 2024, marking a growth of 3.3 percent. In March 2025, Empower's Annual General Meeting, with a quorum of 89.9 percent, approved the Board of Directors' recommendation to distribute cash dividends for the second half of 2024. The total approved dividend amounted to AED437.5 million, equivalent to 4.375 fils per share, representing 43.75 percent of the company's paid-up capital. The first quarter of 2025 saw significant expansion in Empower's operations, with the company signing 46 new contracts to supply over 43,000 refrigeration tons (RT) to various projects and buildings across Dubai. This has resulted in the company's total contracted capacity reaching more than 1.81 million RT. Additionally, Empower's connected capacity exceeded 1.58 million RT, following the addition of more than 15,000 RT during the first quarter of the year. This surge reflects growing demand among real estate developers and property owners in the emirate for environmentally friendly district cooling solutions. During this period, Empower strengthened its presence across Dubai by signing multiple agreements to supply major projects with its environmentally friendly district cooling services. Key agreements included a strategic partnership with Wasl Group to provide district cooling for The Island Resort project, with a cooling capacity of 23,853 RT, the service delivery of which is expected to commence in Q1 2028. In a separate development, Empower signed an agreement with the Dubai Multi Commodities Centre (DMCC), the region's leading business hub, to supply district cooling for the next phase of the Uptown Dubai development, with a capacity of 24,675 RT. Additionally, Empower finalised an agreement to deliver sustainable cooling services to the Palm Gateway project on Palm Jumeirah, with a cooling capacity of 9,470 RT. The service operation for the project is scheduled to commence in Q2 2026. Empower reported robust growth during the first quarter of 2025, adding 19 new buildings to its portfolio. Moreover, the number of verified online registrations by new customers from both the public and private sectors rose by 22 percent compared to the same period last year. Additionally, Empower, in collaboration with strategic partners, including banks and financial institutions, processed 224,886 bill payment transactions through online platforms, reflecting a 7 percent increase compared to the same period last year. As part of its ongoing efforts to streamline operations, Empower also approved 11,116 No-Objection Certificate (NOC) service requests during the first quarter of 2025, representing a YoY increase of 8 percent. Empower participated in the IDEA Campus Energy 2025 Conference, held in Boston, USA, from February 3 to 6. Organised by the International District Energy Association (IDEA), the event gathered over 1,000 participants from around the world. On the sidelines of the conference, Ahmad Bin Shafar met with Rob Thornton, President and CEO of IDEA, to discuss preparations for Dubai's hosting of the District Cooling Conference 2025, the fourth time the emirate will host this prestigious event. In Q1 2025, Ahmad Bin Shafar was named among the "Dubai 100," Arabian Business's prestigious list of the most influential individuals shaping Dubai's future across sectors, including business, government, technology, and culture. This recognition highlights 's significant contributions to advancing sustainability and reinforcing Dubai's status as a global hub for innovation and excellence.
Trade Arabia
10-05-2025
- Business
- Trade Arabia
Empower reports $147m Q1 revenue
Emirates Central Cooling Systems Corporation (Empower), the world's largest district cooling services provider, reported a total revenue of AED540 million ($147 million) for Q1, representing a 0.4% increase compared to the same period in 2024. EBITDA (earnings before interest, taxes, depreciation, and amortization) was at AED297 million. Empower also reported a pre-tax net profit of AED159 million and the net profit after tax amounted to AED145 million for the quarter ended 31 March 2025. Strategic expansions Ahmad Bin Shafar, CEO of Empower, commented: "The sustainable growth during the first quarter of this year is a direct result of our strategic expansion in key projects, combined with Empower's expertise in maximizing the value of its growing footprint in the district cooling market. We have successfully added an increasing number of real estate projects across various sectors into our extensive portfolio, driving high demand for our services, which have become the preferred choice for both building owners and end-users.' 'Empower remains firmly committed to expanding its asset base, including plants and distribution networks, to meet the rising demand and further strengthen its market share, ensuring sustainable, long-term returns," he added. Global leadership Bin Shafar emphasised that Empower's financial results are a cornerstone of its continued global leadership in the district cooling market. He noted that these results reaffirm the company's outstanding ability to meet increasing demand with service standards that exceed international benchmarks, supported by high operational readiness and the robust capacity of its extensive asset base. Greater value for shareholders Bin Shafar affirmed that Empower's efforts to capitalise on real estate momentum and broader economic growth, alongside continued investment in expanding its asset portfolio and infrastructure, are key drivers in delivering enhanced value, rewarding returns, and sustainable growth for shareholders. According to the company's financial statements, Empower reported consolidated revenues of AED3.26 billion for the 12-month period from April 2024 to March 2025, compared to AED3.08 billion between April 2023 to March 2024, reflecting an impressive growth of 6%. Additionally, company's EBITDA for the last 12 months reached AED1.53 billion, compared to AED1.49 billion for the period April 2023 to March 2024, marking a growth of 3.3%. Empower dividend distributions In March 2025, Empower's Annual General Meeting approved the Board of Directors' recommendation to distribute cash dividends for the second half of 2024. The total approved dividend amounted to AED 437.5 million, equivalent to 4.375 fils per share, representing 43.75% of the company's paid-up capital. Expanding operations The first quarter of 2025 saw significant expansion in Empower's operations, with the company signing 46 new contracts to supply over 43,000 refrigeration tons (RT) to various projects and buildings across Dubai. This has resulted in the company's total contracted capacity reaching more than 1.81 million RT. Additionally, Empower's connected capacity exceeded 1.58 million RT, following the addition of more than 15,000 RT during the first quarter of the year. This surge reflects growing demand among real estate developers and property owners in the emirate for environmentally friendly district cooling solutions. During this period, Empower strengthened its presence across Dubai by signing multiple agreements to supply major projects with its environmentally friendly district cooling services. Key agreements included a strategic partnership with Wasl Group to provide district cooling for The Island Resort project, with a cooling capacity of 23,853 RT, the service delivery of which is expected to commence in Q1 2028. In a separate development, Empower signed an agreement with the Dubai Multi Commodities Centre (DMCC), the region's leading business hub, to supply district cooling for the next phase of the Uptown Dubai development, with a capacity of 24,675 RT.
Hi Dubai
30-04-2025
- Business
- Hi Dubai
Empower Drives Sustainable Tourism with District Cooling Solutions in Dubai
Empower is earning praise from Dubai's tourism leaders for playing a key role in advancing sustainability across the hospitality sector, as highlighted during Arabian Travel Market 2025. The company's energy-efficient district cooling systems are being recognized as a major contributor to reducing the industry's carbon footprint while supporting global best practices in environmental responsibility. Ahmad Bin Shafar, CEO of Empower and Chairman of the District Cooling Operators Association, affirmed that the company is aligning its efforts with national strategies like the UAE Tourism Strategy 2031 to promote sustainable growth in tourism. Empower is collaborating with industry stakeholders to help hotels transition to environmentally friendly operations through its cutting-edge, AI-powered cooling technology. As of the end of 2024, Empower provides district cooling to 22% of Dubai's 832 hotel and hotel apartment buildings. This includes landmark properties such as Atlantis The Royal, Burj Al Arab, JW Marriott Marquis Dubai, and One&Only One Za'abeel. The company's presence spans major hospitality zones like Business Bay and Dubai Healthcare City. Industry participants at the travel market stressed that sustainable infrastructure like district cooling is not only a climate solution but also a business advantage, offering long-term operational benefits. Bin Shafar echoed this, stating that sustainability is now a core priority for businesses aiming for resilience and growth. Reflecting this trend, Empower revealed that several upcoming hotel and tourism projects are expected to join its network in 2025. The firm continues to receive strong interest from developers looking to integrate its high-efficiency cooling systems into new developments. This growing momentum underscores the tourism sector's increasing commitment to sustainability, in line with the Arabian Travel Market's 2025 theme: 'Empowering Global Travel: Shaping the Future of Tourism through Connectivity.' News Source: Dubai Media Office
