ZAWYA-PRESSR: Empower notes increase in DEWA’s ownership stake to 80.00%

About this update from Emirates Central Cooling Systems Corporation Pjsc

Dubai, UAE: Emirates Central Cooling Systems Corporation PJSC (“Empower” or “Company”), the world’s largest district cooling services provider listed on the Dubai Financial Market (“DFM”), today noted the announcement by Dubai Electricity and Water Authority PJSC (“DEWA”) regarding its agreement to transfer the full shareholding of Emirates Power Investment LLC (“EPI”) in Empower via Dubai Central Securities Depository LLC.DEWA’s ownership in Empower increases from 56.00% of the Company’s issued share capital to 80.00%, reflecting an increase in DEWA’s controlling stake in Empower. EPI no longer holds any shares in the Company.Ownership Structure Update:DEWA’s shareholding will increase to 80.00%EPI’s shareholding will reduce to 0.00%Empower will continue to operate as an independent public company listed on the DFM, maintaining its focus on delivering efficient and sustainable district cooling services across Dubai.About EmpowerEmirates Central Cooling Systems Corporation PJSC, (Empower) was established in 2003 by Ruler’s Decree, with the objective of providing world-class District Cooling Services to Dubai and the region. Empower’s principal activities focus on the provision of district cooling services and the management, operation and maintenance of central cooling plants and related distribution networks, as well as the production and selling of pre-insulated pipes and fittings. From a modest beginning of its operations with a single temporary plant serving DIFC (the financial district of Dubai), Empower grew exponentially and became the largest District Cooling Services provider in the world by capacity within a span of a decade. Empower provides its services to a portfolio of world-class projects in Dubai such as Dubai International Airport, Dubai International Financial Centre, Business Bay, Dubai Healthcare City, Palm Jumeirah, Jumeirah Lake Towers, Meydan, Deira Waterfront, Blue Waters, Jumeirah Group, Jumeirah Beach Residence, Discovery Gardens, Ibn Battuta Mall, Dubai Design District, Dubai Maritime City, Dubai Production City, Dubai Land Residence Complex and many more.For more information, please visit EMPOWER’s website www.empower.ae Send us your press releases to [email protected]: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not con...

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