Dubai: Empower (or Emirates Central Cooling Systems Corporation) is acquiring the district cooling systems of Dubai International Airport for Dh1.1 billion. The deal will be financed through a combination of “internal accruals and debt financing from local and international banks.”
Empower will own and manage all the existing district cooling infrastructure of the Airport, with a capacity of up to 110,000 RT. This capacity covers the equivalent of 11 times the consumption of Burj Khalifa, said the company in a statement.
"The deal is part of the Dh25 billion Public-Private Partnership (PPP) project portfolio announced by the Government of Dubai's Department of Finance (DOF),” said Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority, Chairman of Dubai Airports, Chairman and Chief Executive of Emirates Airline & Group and Chairman of the Dubai Supreme Council of Energy.
“With this acquisition, the Dubai Aviation City Corporation has made a big leap through its partnership with Empower. Through this acquisition, both the parties seek to reaffirm Dubai's leading global position by accelerating the pace of developments by strengthening partnerships, using advanced technologies and adopting innovation in all their activities."