Empower annual profit up 8.3% to $237million

The number of buildings that Empower provides with district cooling services now exceeds 1,180 and its customer base has grown to more than 120,000.

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Empower signed contracts with a total value of $307m in 2019.
Empower signed contracts with a total value of $307m in 2019.

Empower reported a net profit of $237million in 2019, up 8.3% on the previous year.

The company also posted total revenues of $596million in 2019, up 7.9% on 2018.
 
The number of buildings that Empower provides with district cooling services now exceeds 1,180 and its customer base has grown to more than 120,000.

Empower’s total cooling capacity reached 1,530,000 refrigeration tonnes (RT) in 2019, covering various projects, such as Deira Waterfront, Blue Waters, Jumeirah Group, Jumeirah Beach Residence and Dubai International Financial Centre.

Ahmad Bin Shafar, CEO of Empower, said: “2019 was a milestone year for Empower, given the net profit increase, in addition to the significant expansion in number of district cooling plants, district cooling pipeline network, customer base and the number of buildings connected with our district cooling services.”

Bin Shafar added: “We now have 79 plants across Dubai, including the world's first unmanned district cooling plant, along with the largest district cooling network.”
 
Cooling plants
In 2019, Empower launched the pilot operation of the world's first unmanned cooling plant at Jumeirah Village Circle, Dubai, with a total cooling capacity of 50,000 RT.

Empower also announced that its Barsha Heights permanent cooling plant is now fully operational with a total cooling capacity of 31,250 RT, replacing three semi-permanent cooling plants in the area.

Empower has awarded a $53m contract to begin construction of its new district cooling plant in Dubai Production City, with a total capacity of 47,000 RT.

The company also signed a contract to design two new district cooling plants in Business Bay, with a total cooling capacity of 90,000 RT, which will increase the capacity of the project to 225,000 RT.

Empower has started designing its district cooling plant for Dubailand Residential Complex, with a capacity of 40,000 RT. It has also completed the design works of Business Bay 4, 5, and 6 plants, as part of its expansion plan in the area.

Expanding network
Empower signed contracts with a total value of $307m in 2019 with various companies, for engineering consultancy, construction, design and operation of cooling plants; expansion of district cooling pipe networks; and development of new networks to serve emerging projects in Dubai.
 
Empower provided district cooling services to four new major projects in 2019, including Dubai Arena, the expansion of The Royal Atlantis Resort & Residences at the Palm Jumeirah, One JBR project, and DIFC Grand Mosque – with a total capacity of 19,250 RT.

Empower also provided district cooling services to Deira Waterfront in two phases using innovative technologies in district cooling. The first phase included providing around 20,000 RT to 18 buildings, covering 570,000 sqm and the second phase included providing 25,000 RT to 28 buildings, covering 910,000 sqm.

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