Latest news with #NationalCentralCoolingCompany
Al Etihad
29-05-2025
- Business
- Al Etihad
Tabreed operates 92 AI-managed plants in 6 countries from Abu Dhabi hub
29 May 2025 19:03 ABU DHABI (WAM) National Central Cooling Company, Tabreed, operates a district cooling network comprising 92 plants across six countries, delivering over 1.3 million refrigeration tonnes to its customers, all centrally managed through its control centre in Abu on the sidelines of the World Utilities Congress held at ADNEC in Abu Dhabi, the Chief Executive Officer of Tabreed, Khalid Al Marzooqi, said artificial intelligence will play a pivotal role in the next phase of enhancing energy efficiency in district cooling operations and reducing further carbon highlighted that Tabreed is the first district cooling company in the region to collect vast volumes of real operational data over more than 27 years, which has enabled it to accelerate digital transformation and implement AI in its is demonstrated through its control and monitoring centre located on Saadiyat Island, Abu Dhabi, which remotely oversees and manages all of Tabreed's plants across the six Marzooqi added that reaching this level means full automation of plant operations and activation of 24/7 monitoring and control systems, laying the groundwork for the next step—leveraging AI capabilities to proactively optimise plant performance and align production with cooling demand. This, he explained, boosts energy efficiency, reduces pressure on power grids, and ultimately enhances the role of district cooling in cutting carbon emissions and supporting global efforts to achieve net-zero emissions by 2050.
Zawya
17-02-2025
- Business
- Zawya
Tabreed's revenues surge in 2024 due to expansion in India, Egypt
Dubai: National Central Cooling Company (Tabreed) registered net profits attributable to the owners valued at AED 570.21 million in 2024, compared with AED 431.14 million in 2023. Total basic and diluted earnings per share (EPS) attributable to ordinary equity holders of the parent climbed to AED 0.20 last year from AED 0.15 in 2023, according to the annual financial results. Revenues soared to AED 2.43 billion at the end of December 2024 from AED 2.41 billion a year earlier. Increased revenue was mainly driven by growth in consumption volumes, which rose by 5% to 2.66 billion refrigeration ton hours (RTH). Connected capacity expanded by 23,756 Refrigeration Tons (RT), bringing Tabreed's total connected capacity to 1.32 million RT. The growth was attributed to the company's commissioning of two new greenfield plants in the UAE and Oman, while expanding capacity at its existing plants, including in India and Egypt, to meet the growing demand from customers. Bakheet Al Katheeri, Chairman of Tabreed, said: 'Demand for cooling is rapidly growing and Tabreed's unrivalled expertise means it is well placed to meet market requirements with speed, agility and sustainability, perfectly aligned with the UAE's 'Net Zero by 2050' initiative.' 'The company continues to deliver strong financial performance evidenced by a 15.5 fils per share dividend that matches the record set in 2024,' Al Katheeri highlighted. Tabreed's CEO, Khalid Al Marzooqi, commented: 'The company's financial position has significantly improved over the past few years, laying strong foundations for the future expansion in both UAE and international markets, and I look forward to further achievements throughout 2025.' As of 30 June 2024, the UAE-based group's net profits attributable to the owners plummeted to AED 269.02 million from AED 386.39 million in the year-ago period.
