Empower set to cool Dubai Maritime City: Emirates Central Cooling Systems (Empower) has signed an agreement to provide district cooling services to Dubai Maritime City (DMC), it said in a disclosure (pdf) to the Dubai stock exchange. The firm will invest

AED 450 mn (USD 122 mn) to construct two plants that will provide more than 63k refrigeration tons (RT) of cooling capacity at the maritime zone. No details were given about the timeframe for getting the project up and running.

The details: Empower will deliver cooling services to 43 buildings in two separate phases. The first phase will supply more than 28k RT 27 buildings, and another 35k RT will be provided to the remaining buildings in the second phase.

Owned by DP World, DMC is an industrial and commercial park featuring maritime logistics services, residential properties, hotels, and retail outlets. Last year, it announced it would invest DH 140 mn to develop the zone’s infrastructure.

This is the company’s first agreement of its kind since its November IPO, which saw it sell a 20% stake on the Dubai Financial Market.

Empower had a solid 2022: Empower reported (pdf) its highest-ever revenue in 2022 and delivered a AED 1bn profit, up 7% on 2021.

The district cooling market is on the up and up: The global district cooling market was expected to rake in USD 47.64 bn by 2022 due to surging demand for DHS systems in the Middle East. The value of the MENA market is expected to reach USD 15 bn by 2027.