Empower acquires district cooling rights for Dubai International Airport for Dh1.1b

Empower acquires district cooling rights for Dubai International Airport for Dh1.1b

Dubai: Dubai International Airport will now get its district cooling needs from Empower, the DFM-listed entity. This comes after Empower bought the acquisition rights for the Dubai travel hub. With a total capacity of 110,000 refrigeration tons (RT) and with a value of Dh1.1 billion, five district cooling plants will be linked to Empower systems as part of an acquisition deal. Apart from the five plants, Empower’s buy includes the related infrastructure that was until now part of Dubai Aviation City Corporation’s portfolio. "The acquisition was executed with a high level of professionalism and was flexible and smooth," Empower said in a statement. Ahead of its IPO last year, Empower had gone in for a massive consolidation of district cooling capacity across Dubai, leaving it with a dominant position in the city. The subsequent IPO was one of the major highlights of 2022 for the UAE capital markets.