Empower Earns AED540 Million in Q1 2025 as Demand for Cooling Grows
Image used for illustrative purpose.WAM
Dubai: Empower, the world’s largest district cooling company, announced strong results for the first quarter of 2025. The company reported AED540 million in revenue, a slight increase from last year, and AED145 million in net profit after tax.
CEO Ahmad Bin Shafar said this growth comes from expanding into new projects and increasing demand for eco-friendly cooling in Dubai. In Q1 2025, Empower signed 46 new contracts to supply over 43,000 refrigeration tons (RT), boosting its contracted capacity to 1.81 million RT and connected capacity to 1.58 million RT.
Major deals included:
- Wasl Group: 23,853 RT for The Island Resort (Q1 2028 start)
- DMCC: 24,675 RT for Uptown Dubai
- Palm Gateway: 9,470 RT, starting Q2 2026
Empower added 19 new buildings to its network and saw a 22% increase in new online customer registrations. It also processed 224,886 online payments (up 7%) and approved 11,116 NOC requests (up 8%).
For the 12 months ending March 2025, revenue reached AED3.26 billion, up 6%, and EBITDA hit AED1.53 billion. A cash dividend of AED437.5 million was approved for the second half of 2024.
Empower also took part in the IDEA Campus Energy 2025 Conference in Boston and is preparing to host the District Cooling Conference 2025 in Dubai. CEO Bin Shafar was named one of the “Dubai 100” for his role in advancing sustainability and innovation in the UAE.
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