Empower
Empower is the world’s largest district cooling services provider and a clear leading player in Dubai’s district cooling market.
Established in 2003 by Royal Decree as a joint venture between Dubai Electricity and Water Authority (DEWA) and the Free Zone Authority (which subsequently assigned its ownership interest to TECOM Group and subsequently to Emirates Power Investment, an indirectly wholly owned subsidiary of Dubai Holding), Empower listed on the Dubai Financial Market (DFM) in 2022. It is the world’s largest district cooling services provider (source: the International District Energy Association) and a clear leading player in Dubai’s district cooling market.
On 14 October 2022, pursuant to Dubai Law No. (22) of 2022 (which repealed Law No. 10 and Law No. 3) and any other legislation to the extent that it contradicts the provisions of Dubai Law No. (22) of 2022 (“Law No. 22”) Empower was established in its current form, as a public joint stock company, to succeed Emirates Central Cooling Systems Corporation.
On 15 November 2022, Empower successfully completed the initial public offering of its shares and listed its shares on the DFM. Following this IPO, DEWA and Emirates Power currently remain its major shareholders, retaining a 56% and a 24% shareholding in Empower respectively. The principal activities of the company and its subsidiaries are the provision of district cooling services and the management, operation and maintenance of central cooling plants and related distribution networks, and the production and selling of pre-insulated pipes and fittings.
Empower’s vision is to be the world’s leading district cooling services provider by promoting sustainable and optimised use of energy resources to deliver reliable, cost-effective, and environmentally friendly world-class district cooling services to achieve customer satisfaction, thereby creating long-term shareholder value.
Empower’s vision is to be the world’s leading district cooling services provider by promoting sustainable and optimised use of energy resources to deliver reliable, cost-effective, and environmentally friendly world-class district cooling services to achieve customer satisfaction, thereby creating long-term shareholder value.
