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Empower registers 3% higher net profits in 2020

Empower registers 3% higher net profits in 2020
The company has generated revenues of AED 2.26bn

UAE - Mubasher: The net profits of Emirates Central Cooling Systems Corporation (Empower) rose by 3.4% to AED 901 million in 2020, compared to AED 871 million in 2019.

The company has generated revenues of AED 2.26 billion in 2020, up 3% from the earlier year, according to a recent press release.

The number of buildings that Empower offers with its district cooling services has reached more than 1,252.

Meanwhile, the total cooling capacity has recorded 1.64 million refrigeration tonnes (RT) in 2020 across several projects, including Blue Waters, Jumeirah Group, and Dubai International Financial Centre (DIFC).

Empower also inked AED 1.39 billion contracts with various companies to construct new district cooling plants, networks, Energy Transfer Stations (ETS), and engineering consultancy.

In addition, the company decreased its fuel surcharge rates by around 25% effective 1 December 2020.

Commenting on the company's performance, the CEO of Empower, Ahmad bin Shafar, said: "Empower is committed towards efficient utilisation of energy resources and supporting its customers and real estate developers, by providing high quality and eco-friendly district cooling services."

Bin Shafar commented: "We will continue our endeavors in 2021 to increase the number of district cooling plants and expand our district cooling network across Dubai."