Empower annual profit up 8.3% to $237million – MEP MiddleEast

Empower annual profit up 8.3% to $237million – MEP MiddleEast

The company also posted total revenues of $596million in 2019, up 7.9% on 2018.The number of buildings that Empower provides with district cooling services now exceeds 1,180 and its customer base has grown to more than 120,000.Empower's total cooling capacity reached 1,530,000 refrigeration tonnes (RT) in 2019, covering various projects, such as Deira Waterfront, Blue Waters, Jumeirah Group, Jumeirah Beach Residence and Dubai International Financial Centre.. Ahmad Bin Shafar, CEO of Empower, said: "2019 was a milestone year for Empower, given the net profit increase, in addition to the significant expansion in number of district cooling plants, district cooling pipeline network, customer base and the number of buildings connected with our district cooling services.". Empower has awarded a $53m contract to begin construction of its new district cooling plant in Dubai Production City, with a total capacity of 47,000 RT.The company also signed a contract to design two new district cooling plants in Business Bay, with a total cooling capacity of 90,000 RT, which will increase the capacity of the project to 225,000 RT.Empower has started designing its district cooling plant for Dubailand Residential Complex, with a capacity of 40,000 RT..