GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >> LifeStyle

 
  Share

Dubai, UAE, November 08, 2017 – Emirates Central Cooling Systems Corporation (Empower), the world's largest district cooling services provider, has settled its semi-annual loan instalment two months before its maturity on December 31, 2017. The pre-settled loan instalment amounting to AED 147 million (USD 40 million) forms part of Empower's syndicated loan facility from a consortium of international and local banks and financial institutions.

Ahmed Bin Shafar, CEO, Empower, said: “Empower has always been prudent and strategic when investing in plants and network infrastructure based on the actual demand. The company has recorded steady and sustainable growth as a result of this effort, enabling us to meet our commitments as per agreed timelines. Presently, we have significant capital expenditures needed to expand our capacity in various projects such as Jumeirah Village South, International Media Production Zone (IMPZ), Business Bay, and Dubai Land, amongst others. The new projects will be funded through a mix of debt and internal accruals.”

Bin Shafar added: “Out of the total loan portfolio of approximately AED 2.6 billion, Empower has already settled AED 1.7 billion which demonstrates the robustness and sustainability of Empower's business model and effectiveness of its financial strategy. Banks and financial institutions have appreciated Empower's business strategy and value their investments in our business.”

Empower offers high-quality district cooling services which significantly reduce energy consumption as compared to conventional air conditioning systems. District cooling services achieve economies of scale by using centralised plants instead of individual cooling units in each building. The centralised system results in reduced capital and operating costs, thus lowering air-conditioning set-up and energy costs per building.

Empower provides 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.



Posted by : GoDubai Editorial Team
Viewed 1909 times
Posted on : Wednesday, November 8, 2017  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Ministry of Economy discusses ways to reinforce economic & investment ties with Maldives
Next Story : DED-Ajman & DED Abu Dhabi sign cooperative agreement
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Reverse the effects of hair fall with Crescina Re-Growth HFSC Shampoo
Achieve whiter teeth at home with Spotlight Teeth White Strips
Golden Bridge Rectangle Diamonds Celebrates The Virtuosity Of Art Deco Design Genius
Noble™ Anti-aging Skin Care Products
Skyline Conducted Women of Substance: A Panel Discussion on Women Empowerment
UAE National Day celebrated in Skyline Carnival 2017
SUC signed MOU with Waldorf Astoria Ras Al Khaimah
SUC conducted Tour Guide Training Program for SCTDA
Calvin Klein Presents Steadfast Collection
Time for Some AIGNER Love
Mohammed bin Rashid Launches UAE Astronaut Programme
Mido's Multifort Escape - An uncompromising timepiece for exploring new horizons
RUNWAY DUBAI creates a new buzz campaign for fashion tourism
Gift gorgeous skin this festive season.
NIVEA MEN and Real Madrid Extend Partnership Globally Covering 70+ Countries
Sthan, bringing you authentic Frontier food from beyond borders, is now open in Dubai
Eberhard & Co. celebrates 130th Anniversary with special commemorative Edition C...
Coach Women's Lex Stainless Steel Bracelet Watch Collection
‘Artistry' - Branded Jewellery show at Malabar Gold & Diamonds' outlet in Meena ...
Together for Egyptian Cinema: A Million happy viewers
Celebrate the Festive Season With the Galleria on Al Maryah Island in Abu Dhabi
BOSS watches presents Navigator Collection
Absolutely Rejuvenated Skin to Start the New Year
Feast your way into the festive season at The Coffee Club
Bovet Presents Brilliant Is Beautiful Gala Benefitting Artists for Peace and Ju...
Dubai Land Department Launches its Smart Archiving System
Svelte BU4108-11H dress watch in black and rose gold plating makes an impact
Hottest Smartphone ever! Go get a true luxury phone from HUAWEI
Gourmet Gifting at Tub of Butter
Robinsons National Day Trunk Show
Over 200 developers across India participate in CREDAI's Indian Property Show
Lg V30+ Launches in the Uae and Makes Its Way Into Customers' Pockets and Lives
The First “Dilmah Silver Jubilee Gourmet” in a Middle East Hotel Opens in Pullma...
Unilever's Lipton Jebel Ali Tea Factory First in MENA to Achieve Bronze World Cl...
Ghantoot present 17th Emirates Open Polo Championship International
More Than 6,000 Bears Donated to Toys With Wings & Emirates Red Crescent for Nov...
Epson to showcases the future of large laser display technology at InfoComm MEA 2017
Dubai Customs reaffirms efforts to combat counterfeit goods with Japanese partners
Awqaf and Minors Affairs Foundation, Family Village Celebrate 46th UAE National Day
Automechanika Riyadh turns focus on exciting growth potential of Saudi automotiv...
The Verses of Peace Exhibition begins at the Abu Dhabi World Trade Centre
Glamazle.com names a Lipstick after Yardstick Marketing as a testimonial to the ...
Step into 2018 with skinade & slow down the signs of ageing
Green Hope on Former US Vice President Al Gore's 24 Hours of Climate Reality telecast
Saxo Bank 2018 Outrageous Predictions: 2018 will be a true roller coaster ride c...
The du Youth Council Holds a Volunteering Day at Al Ain Zoo with People of Deter...
Indian realty in revival mode, says industry expert
Strong Airline Profitability Continues in 2018
Cybercriminals Switching to Impersonation Attacks to Bypass Email Security Systems
Phumzile: UN Women uses rigorous methods to monitor and evaluate its programmes