Press releases, Reports & Disclosures for Emirates Central Cooling Systems Corporation PJSC

Emirates Central Cooling Systems Corporation PJSC (Empower), the largest district cooling services provider globally, has achieved a second Guinness World Record for the Largest Cooling Plant Coverage in its Business Bay district cooling project in Dubai. This project currently serves 188 buildings, including residential, commercial, and hospitality facilities, and is one of the largest district energy projects worldwide, with a capacity of 451,540 refrigeration tons. Empower's network spans 52.4 kilometers and utilizes advanced technologies, including thermal energy storage and treated sewage effluent. This achievement follows a previous record for the Highest Capacity District Cooling Plant. Empower's CEO, Ahmad Bin Shafar, highlighted the dedication of their teams and their commitment to efficiency, quality, innovation, and sustainability, aligned with the UAE's vision for the future.

The UAE Ministry of Energy and Infrastructure has signed a Memorandum of Understanding (MoU) with Emirates Central Cooling Systems Corporation (Empower) to explore and enhance partnership opportunities for district cooling services in the northern emirates. The agreement aims to improve quality of life, promote sustainability, and support the UAE's Net Zero 2050 Strategy by expanding environmentally-friendly district cooling systems. The MoU was signed by His Excellency Eng. Sharif Al Olama from the Ministry and His Excellency Ahmad Bin Shafar, CEO of Empower, highlighting a commitment to national interests and citizens' well-being. Both parties emphasize their dedication to achieving the UAE's energy goals, particularly in clean energy and sustainability, aligning with the objectives outlined in COP28 and the country's climate neutrality target by 2050.

Forbes Middle East has recognized H.E. Ahmad Bin Shafar, CEO of Emirates Central Cooling Systems Corporation (Empower), as a top sustainability leader in the energy and utilities sector across the Middle East. He is one of 107 leaders honored for their contributions to sustainability, with the UAE leading the list. The evaluation considered various sustainability efforts, including ESG reports and energy efficiency. This is Bin Shafar's second recognition by Forbes Middle East this year. He emphasized the importance of district cooling systems in sustainable development and highlighted Dubai's goal to increase environmentally friendly cooling systems to 40% of its total capacity by 2030.

Emirates Central Cooling Systems Corporation (Empower) reported strong financial results for the third quarter of 2024, with total revenue reaching AED 2.451 billion, marking an 8.0% increase compared to the previous year. The company's EBITDA for the nine months ending September 30, 2024, was AED 1.124 billion, reflecting a 4.7% growth. Pre-tax net profit rose by 5.0% to AED 719 million. Empower attributed this exceptional growth to increased demand for its services in Dubai, driven by a booming real estate market and a rise in new development projects.

Emirates Central Cooling Systems Corporation PJSC (Empower), a leading district cooling services provider, has been recognized by Moro Hub, part of Digital DEWA, for its efforts in reducing carbon emissions by 42,415.92 kilograms over three years. This achievement was made possible through Empower's participation in Moro’s Green Data Centers program. Empower has received its second certification from Moro, following an earlier Green Certification, highlighting its commitment to environmental sustainability. H.E. Ahmad Bin Shafar, CEO of Empower, emphasized the importance of responsible environmental practices and the positive impact of the strategic partnership with Moro in advancing sustainability initiatives. The new certification acknowledges Empower's leadership in sustainability within the district cooling industry and reinforces its commitment to reducing carbon footprints.

Emirates Central Cooling Systems Corporation (Empower) and its subsidiary ELIPS have successfully renewed their ISO certifications for 2024. They were re-certified for ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 after passing audits conducted by Bureau Veritas. Empower also upgraded to the ISO 27001:2022 standard for its Information Security Management System. This renewal highlights both companies' commitment to quality, environmental standards, and information security. H.E. Ahmad Bin Shafar, CEO of Empower and Chairman of ELIPS, emphasized their dedication to meeting customer needs and aligning with the UAE's vision for excellence and innovation.