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Tabreed acquires 50% of Reem Island district cooling plant

The total value of the transaction is Dh348m

Gulf News

Abu Dhabi: National Central Cooling Company (Tabreed), on Tuesday announced the acquisition from Aldar Properties of 50 per cent shareholding in S&T Cool District Cooling Company on Reem Island in Abu Dhabi for Dh348m.

Tabreed will own 100 per cent of the company following completion of the transaction, subject to relevant regulatory approvals, the firm said in a statement.

S&T’s district cooling plant has a connected capacity of over 31,500 refrigeration tons (RT) and provides cooling to buildings Sun & Sky Towers, Gate Towers, The Arc and Shams Boutik mall in Reem Island.