Latest news with #EmiratesCentralCoolingSystemsCorporationPJSC
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
23-03-2025
- Business
- Zawya
On World Water Day, Empower reaffirms its commitment to water security
Dubai, UAE: Emirates Central Cooling Systems Corporation PJSC (Empower), the world's largest district cooling services provider, has reaffirmed its unwavering commitment to environmental protection by utilizing treated water in district cooling operations, aiming to preserve precious fresh water resources. This statement aligns with the company's participation in World Water Day, observed annually on March 22. His Excellency Ahmad bin Shafar, CEO of Empower, emphasized the vital role of water as the cornerstone of sustainable development, stating: 'Water is essential for economic and social development, energy and food production, and the stability of ecosystems and human survival. Moreover, it is a key factor in climate change adaptation, serving as a crucial link between society and the environment.' Bin Shafar highlighted that in the past year, Empower has expanded its Reverse Osmosis (RO) treatment capacity to 21,359 m³ per day, ensuring greater water recycling efficiency across its district cooling plants. This advancement significantly strengthened the company's water recycling and treatment capabilities, reinforcing its long-term water security strategy. In 2024, 8.3% of the total water used in Empower's district cooling operations came from recycled sources, primarily treated sewage effluent (TSE), reducing strain on freshwater reserves while maintaining cooling efficiency. The use of TSE as an alternative to potable water, combined with advanced filtration and recycling systems, has significantly improved the company's water footprint. Bin Shafar further noted that Empower has achieved substantial savings over the years through its advanced environmental practices, in line with the Dubai Executive Council Resolution No. (27) of 2008 , issued under the directive of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, which mandates the usage of alternative water sources in district cooling operations to safeguard the nation's water reserves. Reaffirming its commitment to sustainability, Empower urged the public to intensify efforts to conserve natural resources and ensure their longevity for future generations. The company emphasized the importance of efficient water use in preserving the environment and combating climate change.
Hi Dubai
20-03-2025
- Business
- Hi Dubai
Empower Approves AED 437.5 Million Dividend Amid Record Growth
Emirates Central Cooling Systems Corporation PJSC (Empower) has approved a cash dividend of AED 437.5 million (4.375 fils per share) for the second half of 2024, following a robust financial performance. The decision was endorsed at the company's Annual General Meeting (AGM), chaired by His Excellency Saeed Mohammed Al Tayer, with a quorum of 89.9% of paid-up share capital. Empower recorded its highest-ever revenue of AED 3.26 billion for 2024, with a net profit of AED 908 million. Having distributed AED 850 million in dividends last year, the company announced a new policy committing AED 875 million annually for 2025 and 2026, payable in April and October. Al Tayer emphasized Empower's strategic role in Dubai's district cooling sector, aligning with the emirate's economic and sustainability goals. 'Our unique business model strengthens Dubai's economy while delivering sustainable returns,' he stated. He highlighted the company's commitment to innovation, infrastructure expansion, and environmental sustainability. His Excellency Ahmad Bin Shafar, CEO, reaffirmed Empower's growth trajectory, citing increasing demand driven by Dubai's real estate sector. He expressed confidence in continued expansion and long-term shareholder value. With its advanced infrastructure and strong market position, Empower remains a leader in district cooling, driving efficiency and sustainable energy solutions in Dubai's urban landscape. News Source: Dubai Media Office
Zawya
05-03-2025
- Business
- Zawya
Towards a sustainable future, empower enhances national competencies in district cooling
Dubai, United Arab Emirates: Emirates Central Cooling Systems Corporation PJSC (Empower), the world's largest district cooling services provider, has reported a significant increase in the number of Emirati nationals employed in various professional and administrative roles within the district cooling industry, as Emiratisation witnessed a remarkable growth in the company by the end of 2024. Empower stated that female employees accounted for 45.37% of its Emirati workforce, while men employees represented 54.63%, reflecting the company's commitment to fostering gender balance in the workplace and attracting the best emerging national talent. H.E. Ahmad bin Shafar, CEO of Empower, said: 'Empower places the recruitment and empowerment of national talent at the top of its priorities. We are committed to advancing the UAE's human capital development by enhancing productivity and efficiency, increasing engagement in strategic and vital economic sectors, and equipping Emirati employees with the tools to embrace future advancements and address current and emerging challenges.' Bin Shafar further explained that Empower's integrated framework and strategic plan are delivering measurable results, contributing to the UAE government's vision of increasing Emiratization rates by encouraging active engagement in vital industries. He added: 'Emiratization and the recruitment of qualified Emirati talent have been fundamental to Empower's hiring strategy since its inception. We believe that investing in the nation's citizens is the best approach to sustaining the UAE's development and growth. This not only supports the country's progress but also solidifies its position as a global leader across various indices.' Bin Shafar also emphasized Empower's commitment to empowering and integrating Emirati women into the workforce, fostering their professional growth within the district cooling sector in alignment with the UAE leadership's vision, which recognizes women as equal partners in the nation's development journey.
Mid East Info
04-03-2025
- Business
- Mid East Info
Towards a Sustainable Future, Empower Enhances National Competencies in District Cooling - Middle East Business News and Information
Emirates Central Cooling Systems Corporation PJSC (Empower), the world's largest district cooling services provider, has reported a significant increase in the number of Emirati nationals employed in various professional and administrative roles within the district cooling industry, as Emiratisation witnessed a remarkable growth in the company by the end of 2024. Empower stated that female employees accounted for 45.37% of its Emirati workforce, while men employees represented 54.63%, reflecting the company's commitment to fostering gender balance in the workplace and attracting the best emerging national talent. H.E. Ahmad bin Shafar, CEO of Empower, said: 'Empower places the recruitment and empowerment of national talent at the top of its priorities. We are committed to advancing the UAE's human capital development by enhancing productivity and efficiency, increasing engagement in strategic and vital economic sectors, and equipping Emirati employees with the tools to embrace future advancements and address current and emerging challenges.' Bin Shafar further explained that Empower's integrated framework and strategic plan are delivering measurable results, contributing to the UAE government's vision of increasing Emiratization rates by encouraging active engagement in vital industries. He added: 'Emiratization and the recruitment of qualified Emirati talent have been fundamental to Empower's hiring strategy since its inception. We believe that investing in the nation's citizens is the best approach to sustaining the UAE's development and growth. This not only supports the country's progress but also solidifies its position as a global leader across various indices.' Bin Shafar also emphasized Empower's commitment to empowering and integrating Emirati women into the workforce, fostering their professional growth within the district cooling sector in alignment with the UAE leadership's vision, which recognizes women as equal partners in the nation's development journey.
