May 12th, 2014
Empower, the world’s largest district cooling services provider, is set to provide 120,000 Refrigeration Tonnes (RT) district cooling services for TECOM Investments’ Dubai Design District (d3) project, it was announced today. The total value of the project is estimated at AED 750 million, and will be financed through Empower’s revenues.
d3’s district cooling network will be implemented in several phases. The first phase is expected to begin in the fourth quarter of this year, with a capacity of 10,000 RT.
“This deal reflects the strategic relationship we have with Tecom Investments. This project is one of the largest and most important projects ever undertaken by Empower, as it demonstrates the sophistication of our world- class technology that services the Emirate’s landmark real estate developments,” said Ahmad Bin Shafar, Chief Executive Officer, Empower. “d3 will be an interesting and vibrant addition to our unrivaled networks across Dubai.”
He continued, “Two plants, which will be following the latest standards in the district cooling industry, will be built to supply the requested load. The plants will include Thermal Storage and will use TSE (Treated Sewage Effluent) to be aligned with the company’s strategy of sustainability and saving natural resources.”
Located close to Downtown Dubai and Business Bay, d3 is expected to be the creative hub in the Emirate’s flourishing design scene, with spaces for art, fashion and luxury outlets.
“d3 is aimed at being the most attractive and smart urban space in the world, through its strategic location, design and infrastructure making the area the creative flag carrier of this rapidly growing city,” said Dr. Amina Al Rustamani, Group CEO of Tecom Investments. “As the world’s largest district cooling services provider, Empower is a key factor in the development of this project as it has a proven record of providing cost-efficient and environmentally sustainable district cooling services.”
The project will boost Empower’s portfolio by 12%. Over the last decade, the company has built a portfolio that serves business, retail and residential developments that include major real estate developments in Dubai such as Dubai International Financial Centre, Dubai Healthcare City, Business Bay, Jumeirah Beach Residence, Palm Jumeirah among others.