Empower wins first major post-IPO contract, to supply district cooling for Dubai Maritime City
DFM-listed Empower to build two plants at Maritime City, supply 63,000 RT
Dubai: Empower has bagged another major district cooling contract, this time to deliver 63,000 RT to Dubai Maritime City, part of the DP World portfolio. This project win is the ‘first of its kind’ since Empower’s listing on DFM late 2022. (The value of the deal has not been disclosed.)
Empower will invest Dh450 million to pipe its services to more than 43 buildings in Dubai Maritime City, through two phases and with two plants. The first phase includes supplies to 27 buildings with a combined capacity of more than 28,000 RT )refrigeration tonnes), and the second phase offers 35,000 RT to 16 buildings.
Dubai Maritime City is located between Port Rashid and Dubai Dry Docks. The freehold development ‘reflects the pioneering role of Dubai in developing sustainable projects, and invest in marine spaces overlooking the coast of the Arabian Gulf,” said Ahmad Bin Shafar, CEO of Empower, which is coming off a successful IPO and with record results for 2022.
Ahead of the IP, Empower secured a swathe of blue-chip contracts including for Museum of the Future.