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 >> Government, Legal and Humanity

 
  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 3556 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
Meet the FOREO family as they share their top tips for radiant skin during the ...
LOOTAH Perfumes launches four new springtime fragrances for Him and Her
Amani Glam Collection
Three Trends to Try with Palladio Beauty
LOOTAH Perfumes launches fragrant oud ‘Ambwood'
Experience 5 Seconds to New Skin with OXYGEN-PEEL from Filorga
Lip Stick to my Heart - GOSH New Collections
bebe Launches First Ever Ramadan Capsule Collection
Carrera UAE Exhibition
Lexus sweeps two podium finishes at round two of 2018 AUTOBACS SUPER GT 500 series
Max Fashion Reveals Latest 2018 Fashion Trends at Exclusive Trunk Show
Care for your baby's sensitive skin with Corine de Farme
Ramadan-Inspired Sandro SS18 Pieces
New Master Maserati Driving Courses for 2018
Spinneys Puts Local Food Heroes in the Spotlight this Ramadan
Toyota Rush makes a new beginning in the UAE
‘Tree of Life' Continues to Change Lives at Arabian Center, This Ramadan
Ethereum - Second In A Series Of Exclusive Cryptocurrency Watches Launched
Enhance your natural beauty while staying active with The Body Shop's Sportify M...
Beautiful Kaftans for Ramadan from GUESS
RAK Diabetes Center in Jumeirah offering Free Lifestyle wellness checks and Diet...
Global Light and Power Celebrates 10 Years with the Opening of their New Showroo...
Mads Mikkelsen Spotted on Red Carpet at Cannes Wearing Ulysse Nardin Masterpiece
Get Voluminous Eyelashes and Eyebrows with Rodial's Lash and Brow Booster Serum
Dubai Holy Quran Radio launches new special programmes for Ramadan
Pottery Barn Kids Launches Baby Registry Service to Welcome Newborns
HydroPeptide Launches Solar Defense Products in UAE
Diabetes & Ramadan (DAR) Alliance and Sanofi introduce new integrated digital hu...
Make Ramadan Better With the Gift of Sharing
Marchon Eyewear New Collections
Aru Impressed with Team Spirit as Italian Champion Secures Top Ten Finish
The Balmain de Balmain II Mini is a true win-win
Ikea Yas Island Recognised as One of the Brand's Best Stores in the World
Facebook Launches Youth Portal, a Central Place for Teens
Hour Choice Presents Coach Perry Collections – Ramadan Exclusive
Celebrate The Holy Month Of Ramadan With The Night Picnic At Tub Of Butter
Karl Lagerfeld Celebrates Fall / Winter 2018 Collection
Stay connected with your loved ones this Ramadan season with the Nokia smartphones
Breitling's Navitimer 8 Collection Arrives in The Middle East
Charlotte Tilbury, the World's #1 Celebrity Makeup Artist, Announces the Opening...
CND™ Boho Spirit: The Collection Summer 2018 Shades
Global Rollout of LGG7 Thinq Gets Underway
LG G7 Thinq Offers Deep AI Integration for Maximum User Convenience
Google launches new feature on Search to mark Ramadan
Do Explore More with Pandora
Elvis Presley's OMEGA Sells for a World Record CHF 1,500,000 at Auction
Celebrate Father's Day in 'Swiss Style' with Raymond Weil.
Etihad Airways Introduces Ai Robot Sophia to Abu Dhabi
Caudalie The Cleansing Collection
Pick what suits you from essence Spring/Summer 2018 nail polish collection