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His Highness Sheikh Ahmed bin Said Al Maktoum, Chairman of the Dubai Civil Aviation Authority, Chairman of Dubai Airports, Chairman and CEO of Emirates Group, and Chairman of the Supreme Energy Council of Dubai attended the meeting; the largest in the world The district cooling service provider of the United Arab Emirates (Empower) signed an agreement to acquire the district cooling system of Dubai International Airport with a total cooling capacity of 110,000 refrigeration tons (RT) and a total value of AED 1.1 billion. The combination of internal accruals and debt financing of local and international banks with close strategic relationships.
His Excellency Saeed Mohammed Al Tayer, Managing Director and CEO of DEWA and Chairman of Empower, also attended the signing ceremony. Empower CEO Ahmad Bin Shafar and His Excellency Khalifa Al Zaffin, Executive Chairman of Dubai Airways, signed the acquisition agreement for the City Corporation (DACC).
According to the acquisition agreement, Empower will own and manage all the existing district cooling infrastructure of Dubai International Airport and all its facilities and comprehensive facilities, with a capacity of up to 110,000 RT, including 5 units, which is equivalent to 11 times the highest in the world Consumption of the Tower of Burj Khalifa.
His Highness Sheikh Ahmed bin Said Al Maktoum stated: “This transaction is a 25 billion dirham public-private partnership (PPP) announced by the Dubai Ministry of Finance (DOF) at the Dubai International PPP Conference. Part of the project portfolio. Last month at Expo 2020. With this acquisition, Dubai Aerocity has achieved a major leap forward through cooperation with Empower, a global leader in the environmentally friendly district cooling industry, and the adoption of innovative technologies.
He added: “The transaction supports DACC’s continuous efforts to realize its ambitious strategies, which are derived from the UAE’s 2021 sustainable growth vision and Dubai’s unique vision of promoting sustainability and environmental protection values and standards. Through this time With the acquisition, both parties seek to accelerate the pace of development by strengthening partnerships, using advanced technology and adopting innovation in all activities, thereby reaffirming Dubai’s global leadership.”
His Excellency Said Mohamed Al Thaye, Managing Director and Chief Executive Officer of Dubai Electricity and Water Authority and Chairman of Empower, said: “This acquisition is in line with Dubai’s Vice President and Prime Minister Sheikh Mohamed bin Rashid The vision of His Highness Al Maktoum. The ruler of the UAE and Dubai to consolidate Dubai’s global position on the sustainable development map. It is also an active participant in Dubai’s demand-side management strategy in 2030, with district cooling as its prominent pillar one.”
Your Excellency explained that the acquisition agreement established a new concept of partnership between the two parties and transferred its investment results to a wider space, including protecting the environment and natural resources, maintaining the momentum of creating environmentally sustainable communities throughout the emirate, and improving The energy sector has achieved unprecedented performance in terms of efficiency, especially in meeting the standards of increasing demand for district cooling services, which is mainly in line with Dubai’s vision of becoming the world’s most sustainable city.
Your Excellency emphasized that Empower, as a major player in the global aviation industry, attaches great importance to the partnership with DACC by virtue of its industry leading position, innovative technology and quality of expertise in the environmentally friendly area cooling industry. “Empower plays a prominent role in Dubai’s economic development and is working to strengthen its leadership in the local, regional and global district cooling industry to reaffirm the growth and prosperity of Dubai’s industrial sector, which has a wealth of investment Opportunities and the ability to permanently develop and expand the scope of investment activities related to the present and future of the important regional cooling industry.”
His Excellency Khalifa Al Zaffin, Executive Chairman of Dubai Aerocity Corporation (DACC), said: “We are extremely proud of our achievements within the DACC Group and our contribution to helping the Emirate of Dubai become the world’s most important aviation hub. Build the world’s largest international airport. This strategic partnership with Empower proves our ambition to streamline operations at DXB and continue to take the path of high growth. I am confident that Empower will serve Dubai International Airport in accordance with the highest industry standards.”
Ahmad bin Shafar said: “We see this acquisition as a long-term partnership with a well-known organization that is of great development and economic significance. Empower is ready to cooperate with the team. Let’s take the responsibility of this partnership and look forward to fulfilling it fully.”
He pointed out that Empower’s advantages and leading position in the district cooling industry, as well as its remarkable success in the use of unprecedented technology in operation, production and service provision, make it a unique strategic partner for large institutions and large projects, among which the latest It is Dubai International Airport and all its facilities and comprehensive facilities. Currently, Dubai International Airport is one of the busiest airports for international travel, with a passenger throughput of 25.9 million last year. In 2019, it received 86.4 million passengers, and next year’s goal is 56 million passengers, making it one of the busiest airports in the world.
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