UAE - Mubasher: Emirates Central Cooling Systems Corporation (Empower) has inked an agreement to invest over AED 1.6 billion in establishing four district cooling plants and a pipeline network in the Meydan master community, the Dubai media office reported.
Under the agreement, Empower will also offer district cooling services to Meydan with a total capacity of 382,000 refrigeration tonnes (RT) and acquire the existing district cooling plant in exchange for AED 100 million.
Hence, the company will meet the district cooling needs of the 750 existing and upcoming buildings in the city.
The Managing Director and CEO of Dubai Electricity and Water Authority and Chairman of Empower, Saeed Mohammed Al Tayer, said that the transaction is in line with the Dubai Clean Energy Strategy 2050, which aims to raise the production capacity of clean energy to 75% of the energy mix by 2050, and the Dubai Demand Side Management Strategy.
