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Emirates Central Cooling Systems Corporation (EMPOWER) was established in 2003 by the ruler's decree, as a joint venture between DEWA (Dubai Electricity and Water Authority) and TECOM (Dubai Technology and Media Free Zone) to provide efficient District Cooling Services (DCS) to developments in Dubai and the surrounding region.
Empower has gone from strength to strength, with an impressive portfolio of major projects in place, with projected investments exceeding AED 9 billion over the next five years and a realistic target of four million cooling tons set for by 2015.
It is projected that electricity demand across the Middle East region is set to grow at between 5% and 12% per annum. Figures of the emirate of Dubai are much higher: The city is widely acknowledged to be the fastest growing on earth, with some observers suggesting that it could become the most important place on the planet. In this perspective, Empower will play a very important role as Empower's district cooling services significantly reduces both energy costs and the environmental impact by reducing the amount of power required and increasing efficiency.
The ownership and equity shareholding structure of the JV is 70:30. This structure reflects the complimentary strength of both the shareholders (DEWA and Tecom) and the value both parties bring to Empower.