The Emirates Central Cooling Systems Corporation (Empower) has reported total revenues for the first half of 2025 amounting to 1.453 billion AED, reflecting a 7.5% increase compared to the same period in 2024.
Net profit after tax reached 403 million AED, demonstrating a growth of 3.4% from the year earlier.
Earnings before interest, tax, depreciation, and amortization (EBITDA) stood at 719 million AED, up by 3.6%, while pre-tax profit was recorded at 442 million AED, marking a 3.3% increase compared to the prior year’s first half.
Ahmed Bin Shafar, the CEO of Empower, stated: “The exceptional performance of Empower during the first half of 2025 reflects the robustness of our integrated business model and its capability to adapt efficiently to market dynamics and customer needs. The ongoing success of the corporation is attributed to its forward-looking strategy, operational excellence, and ability to derive sustainable value from the momentum of the real estate sector. Empower is committed to enhancing sustainable development through continuous efforts, innovation, modern technology, and renewable energy, contributing to global climate ambitions and the UAE’s goal of achieving carbon neutrality by 2050, while also establishing the UAE’s leadership in climate action and green infrastructure.”
Bin Shafar highlighted ongoing progress and developments at Empower, including the expansion of its infrastructure and project portfolio, as well as its continuous commitment to embracing innovation and digitization across all operations. He emphasized the strong global presence of the corporation within industry forums, reflecting its leadership at an international level and its commitment to sharing expertise in sustainable cooling solutions. Furthermore, he asserted that Empower is dedicated to ensuring long-term added value for all stakeholders and strengthening its position as a leading global model in environmentally-friendly district cooling.
Sustainable Financial Performance
Empower indicated that over the past twelve months, consolidated revenues amounted to 3.36 billion AED (from July 2024 to June 2025), a growth from 3.16 billion AED (from July 2023 to June 2024), representing a 6.3% increase. Additionally, EBITDA for the same periods was 1.58 billion AED (from July 2024 to June 2025) compared to 1.50 billion AED (from July 2023 to June 2024), showing a growth of 5.1%.
Empower Dividends
In the first half of 2025, Empower’s General Assembly, with a quorum of 89.9%, approved the Board’s proposal for cash dividends to shareholders for the second half of 2024, totaling 437.5 million AED (equivalent to 4.375 fils per share or 43.75% of the paid-up capital), which was distributed in April 2025.
Business Growth of Empower
The first half of 2025 saw significant growth for Empower, with 86 new contracts signed to provide over 99,000 tons of cooling to various projects and buildings in Dubai, increasing the contracted capacity to 1.86 million tons, indicative of rising demand from developers and building owners for environmentally-friendly district cooling services. Empower also secured two major agreements during this period: one with the Dubai Multi Commodities Centre to provide cooling services for the next phase of Uptown Dubai, with a cooling capacity of 24,675 tons, and another with Wasl Group to supply cooling services for The Island resort project in Dubai with a capacity of 23,853 tons.
Additionally, the company’s delivered capacity surpassed 1.6 million tons after approximately 38,000 tons were added during the first half of the year, with the total number of buildings served by Empower reaching 1,684.
Added Value for Customers and Stakeholders:
During the first half of 2025, Empower launched a smart application for its individual and corporate customers, enabling users to download the Empower app on both Android and Apple platforms. This initiative is part of the corporation’s commitment to enhancing customer experience and meeting their service needs. The app will facilitate easy access to a comprehensive range of Empower services, allowing customers to manage their accounts efficiently.
Moreover, in June, Empower launched its annual summer campaign “Set Your AC to 24°C and Save” aimed at promoting energy-efficient cooling practices, which marks its twelfth consecutive year running and will continue through the summer. This campaign seeks to raise awareness about responsible energy consumption among approximately 148,000 customers, underscoring Empower’s efforts in supporting the transition to a sustainable environment and a low-emission economy.
Expansion Initiatives
In the first half of 2025, Empower announced the awarding of a contract for excavation and foundation works for a new cooling station in the Al Sufouh 2 area. This project forms part of the corporation’s expansion plans to meet the increasing demand for district cooling services in Dubai. The new facility will be the first of three planned stations in the region, providing a cooling capacity of 23,400 tons to serve several buildings, including the Innovation Center, a prominent landmark in Al Sufouh. This initiative is aligned with Empower’s strategy to enhance its infrastructure and broaden its service offerings in strategically significant areas of Dubai.
Strong Global Presence
Continuing to promote efficient and sustainable cooling solutions worldwide, Empower reinforced its global presence in the first half of 2025 through diamond sponsorship and participation in the IDEA Campus Energy 2025 conference held in February, as well as the IDEA2025 conference and exhibition in June, the largest event of its kind globally. During the latter event, Ahmed Bin Shafar was reappointed as an honorary member of the board of the International District Energy Association (IDEA), in recognition of his substantial contributions to the development of the district cooling sector both locally and globally, and for his pivotal role in transferring best practices from the UAE to international platforms, further establishing the UAE as a global center for innovation in sustainable cooling solutions.
Awards
In the first half of 2025, during its participation in the IDEA2025 conference and exhibition, Empower received three global awards, including two gold awards for the categories of “Total Number of Contracted Buildings” and “Total Area Under Contract” for district cooling services outside North America, as well as a special innovation award for employing machine learning technologies to enhance the efficiency of district cooling plants.
Additionally, during this period, the U.S. Green Building Council awarded the Gold Certification to the Dubai Land cooling station, which has a production capacity of 47,000 tons, servicing the Dubai Land Residence community. Empower received this certification after the Dubai Land station successfully met the standards of the Leadership in Energy and Environmental Design (LEED) established by the U.S. Green Building Council, affirming the corporation’s identity and pioneering efforts in environmental protection and reducing carbon footprint. Thus, Empower added another accolade to its impressive record of achievements.
Furthermore, Ahmed Bin Shafar was listed among the “Dubai 100,” a compilation of the most influential figures in the emirate for 2025 published by Arabian Business, highlighting individuals shaping the future of Dubai across various sectors, including business, government, technology, and culture. His recognition reflects his vital role in advancing sustainable progress and establishing Dubai as a global center for innovation and excellence.