Latest news with #DistrictCoolingConference
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
Emirates 24/7
07-02-2025
- Business
- Emirates 24/7
Dubai gears up to host the international District Cooling Conference 2025
His Excellency Ahmad Bin Shafar, CEO of Emirates Central Cooling Systems Corporation PJSC (Empower), the world's largest district cooling services provider, met with Rob Thornton, President and CEO of the International District Energy Association (IDEA), during his participation in the IDEA Campus Energy Conference 2025 in the United States. Their discussions focused on the preparations for Dubai's hosting of the International District Cooling Conference 2025 for the fourth time. During the meeting, key aspects were discussed to ensure the successful organization of the event, including the main themes that align with the latest developments in the district cooling industry, the challenges it faces, and strategies to overcome them. The goal remains to solidify the conference's international standing as the premier global platform for district cooling discussions and one of the most significant specialized conferences in the sector. The International District Cooling Conference serves as a global platform for experts and decision-makers to discuss the latest advancements and technologies in the district cooling sector, contributing to the promotion of energy efficiency and environmental sustainability on a global scale. On the sidelines of the discussion regarding Empower's readiness to host the international event, His Excellency Ahmad Bin Shafar, CEO of Empower, Chairman of the District Cooling Operators Association, and a Board Member Emeritus of IDEA, stated that the company has a distinguished track record in hosting this international conference, having successfully hosted it in 2014, 2016, and 2018. This, he noted, underscores Dubai's global position as a leading hub in the district cooling industry and its pioneering role in advancing energy efficiency and environmental sustainability. He further added that hosting of the conference fourth time in Dubai clearly demonstrates the great support that the emirate extends to the global district cooling sector, stemming from its belief in the importance of this sector in contributing to the achievement of environmental sustainability worldwide. He expressed the pride in continuing the fruitful cooperation with IDEA at all levels. Globally recognized as a prestigious professional platform, the District Cooling Conference brings together specialists, experts, and industry leaders in district cooling, energy efficiency, and renewable energy solution from around the world. The official dates for the conference are set to be on December this year. Follow Emirates 24|7 on Google News.
