In a significant development for the energy sector in Dubai, the Dubai Electricity and Water Authority (DEWA) has increased its ownership in Emirates Central Cooling Systems Corporation PJSC (Empower) from 56% to 80%. This strategic move comes as DEWA acquires the full shareholding of Emirates Power Investment LLC (EPI) in Empower through Dubai Central Securities Depository LLC.

Empower, established in 2003, has grown to become the largest district cooling services provider globally by capacity. It serves a vast portfolio of prestigious projects in Dubai, including Dubai International Airport, Dubai International Financial Centre, and Palm Jumeirah, among others. Despite the change in ownership structure, Empower will continue to operate as an independent public company listed on the Dubai Financial Market (DFM), maintaining its focus on delivering efficient and sustainable district cooling services across Dubai.

The increase in DEWA's shareholding is a testament to its commitment to reinforcing its influence in the district cooling sector, which is crucial for sustainable urban development in Dubai. Empower's robust growth trajectory and its strategic importance in supporting Dubai's infrastructure make it a valuable asset for DEWA.

For investors, this development could signify a more stable and promising future for Empower, given DEWA's strong backing. However, the increased control by DEWA could also mean limited influence for other shareholders. Thus, while the company's fundamentals remain strong, the change in ownership dynamics suggests a 'hold' strategy for current investors, as they monitor how this increased stake will impact Empower's operational strategies and market performance.