DUBAI, 23rd November, 2022 (WAM) — Emirates District Cooling Company (EMICOOL), a joint venture between Dubai Investments, a leading investment company listed on the Dubai Financial Market (DFM) and Actis LLC, a leading global investor in sustainable infrastructure, has signed a Power Purchase Agreement with Emirates Electrical Engineering (EEE), one of the solar market leaders in the UAE.
The agreement confirms the company is increasing its solar capacity by 238% within its District Cooling Plant 1 (DCP1) along with its head office boundaries, located in Dubai Investments Park 1.
The agreement aligns with EMICOOL’s strategic objectives towards maximizing the penetration of clean and renewable energy to their processes and supports energy transition into low carbon emissions, increasing the overall solar penetration to portfolio. With the latest solar facade transformation project, EMICOOL aims to reach 350 KWP (Solar Productive Capacity) for the DCP1 plant.
Dr. Adib Moubadder, Chief Executive Officer at EMICOOL, commented, “As an important economic player within the UAE, Emicool is pursuing efforts to support and enhance the nation’s national strategies like the Dubai Integrated Energy Strategy 2030 as well as the UAE’s 2050 Strategy, contributing to the Company’s wider sustainability agenda.
“We are always focussed on integrating the latest technology to reach net-zero and this partnership will greatly impact our business by maximizing and reshaping already existing objectives to improve green energy penetration and contribute to enhancing the quality of life.”
EMICOOL operates in a well invested business model, that has grown to a platform of 18 operational DC (District Cooling) plants, having a total cooling capacity of more than 330,000 TR.
The company has a proven track record in supplying cooling services with thousands of satisfied customers located in several areas. Emicool provides district cooling services to DIP, Dubai Motor City, Dubai Sports City, Uptown Mirdif, Palazzo Versace, Damac Hills and Mirdiff Hills, Night Souk by Nakheel, RTA Metro Stations (Expo line), and DWTC at the Expo 2020 site.