The two companies signed an agreement to supply District Cooling services to the DP World-owned project with a capacity of more than 63,000 RT
Empower
district cooling
Empower hails ‘unprecedented’ success after $762m revenue year
Empower net profit increased 13.3 per cent to pass AED1bn
DEWA
DEWA sees $864m Q3 profit as it moves closer to yearly record
DEWA sees year-to-date profit of $1.762bn in first nine months of 2022
Empower
Empower IPO raises $724m amid huge demand
Empower IPO attracted $34bn in orders from investors
Dubai
Empower IPO set at $724 million
Empower increased the share offering to 20% on investor demand
DEWA
Dubai’s Empower increases IPO offer size to 20% stake
Empower IPO will raise $724m after upping the offering following demand
DEWA
Dubai’s Empower increases IPO offer size to 15% stake
DEWA and EPI-owned company will become the fourth government entity to be listed on Dubai Financial Market; Subscription opens on October 31
cash dividend
DEWA announces one-time special dividend payment to its shareholder
The decision was made after the company received a dividend of $550 million from EMPOWER; DEWA recently paid $844 million as part of its annual dividend
district cooling business
Dubai set to sell 10% stake in Empower through IPO later this month
DEWA and EPI-owned company will become the fourth government entity to be listed on Dubai Financial Market; Subscription opens on October 31
DEWA
Empower IPO ‘under review’ as Dubai’s DEWA posts nearly $900 million in half year profits
The figure represents a 33 percent year-on-year growth. The utility provider’s first half revenue also jumped 15 percent to AED12.08 billion, which it attributes to rising energy demand in Dubai
DEWA
Dubai earmarks $10.9 billion for water, electricity projects in the next five years
Around AED 16 billion in the package will be used to boost electricity and water transmission and distribution networks, while AED 16 million will go to finishing renewable projects
cooling service provider
DEWA begins IPO subscription period, set to be DFM’s most valuable company with market cap of up to $33.76bn
The IPO subscription period starts today and runs until 2 April 2022 for the UAE Retail Offering, and until 5 April 2022 for the Qualified Investor Offering
Ahmad Bin Shafar
Empower awards contract worth $52.5 million for the construction of a district cooling plant in Dubai
Phase 1 of the plant will provide 23,500 refrigeration tonnes (RT) of environmentally-friendly district cooling services to the the Dubai Land Residence Complex (DLRC) region
district cooling business
Dubai plans to list district cooling firm Empower in IPO push
Government has already announced plans to sell shares in its main utility Dubai Electricity & Water Authority and the Salik road toll-collection system
district cooling
Empower acquires cooling assets of Dubai’s DXB in $300m deal
Under deal, Empower will own and manage all the existing district cooling infrastructure of Dubai International Airport
district cooling service
Empower to invest $440m after securing cooling deal for Dubai’s Meydan
World’s largest district cooling provider says it will meet the needs of 750 existing and upcoming buildings
district cooling
Empower strikes $234m deal to buy cooling assets from Nakheel
Saeed Al Tayer, chairman of Empower, hails the deal as a ‘new bright milestone’ for the company.