“This is another important milestone in reinforcing our presence and progress. These contracts will further support our commitment to increase environmental efficiency,” says H.E Bin Shafar.
Dubai, UAE, April 19 2017:Emirates Central Cooling Systems Corporation (Empower), the world's largest district cooling services provider, announced that it has awarded contracts valued at AED 62million in the first quarter of the year.
According to Empower, the main reason behind the increase in the number as well as the value of contracts is the customers' growing trust in the district cooling service, in terms of its efficiency compared to conventional cooling services. The company recently announced that the number of its customers has increased to reach 65,000 at the end of 2016. Empower underscored that the number of its customers and contracts has only seen an increase in 2017.
“We are very delighted to have closed the first quarter on a grand note,” said H.E. Ahmad Bin Shafar, CEO of Empower.“This is another important milestone in reinforcing our presence and progress. These contracts will further support our commitment to increase environmental efficiency. We will continue to maintain strong focus on our delivery and set new standards for district cooling in the country which will not only spell success for us, but the country as a whole,”added H.E. Ahmad Bin Shafar.
“Empower is committed to boost UAE's efforts to become the country with lowest carbon footprint in the world by 2050. As district cooling requires specialist knowledge, Empower is well equipped to provide best-in-class services with our advanced knowledge and a team of highly qualified professionals. Companies have chosen us based on our global position and international confidence we earned based on the world-class solutions we provide” added H.E. Ahmad Bin Shafar.
The growing adoption of technology to reduce carbon emissions, rise in district cooling installation and industrial activities have boosted the Middle East district cooling market.A report by Transparency Market Research (TMR), a global market intelligence company, indicated that the global district cooling market, which was valued at $11.2 billion in 2015, is expected to expand at a compound annual growth rate (CAGR) of 5.1 per cent to reach $17.3 billion in 2024.
Empower currently operates more than 1.250 Million RT, providing environmentally responsible district cooling services to large-scale real estate developments such as Jumeirah Group, Business Bay, Jumeirah Beach Residence, Dubai International Financial Centre, Palm Jumeirah, Jumeirah Lake Towers, Ibn Battuta Mall, Discovery Gardens, Dubai Healthcare City, Dubai World trade Centre Residences, Dubai Design District, among others.