Dubai Electricity and Water Authority PJSC (DEWA) has completed the transfer of the entire shareholding of Emirates Power Investment LLC in Emirates Central Cooling Systems Corporation PJSC (Empower) through Dubai Central Securities Depository LLC.
Under the transaction, DEWA acquired 2.4 billion shares in Empower, thereby increasing its ownership to 80%. As a result, the utility further consolidated its strategic position in Dubai’s district cooling sector.
Ownership stake rises to 80%
Saeed Mohammed Ahmad Al Tayer, Managing Director and Chief Executive Officer of DEWA, said: “We are pleased to announce the increase of DEWA’s ownership in Empower to a total of 80%, which further strengthens DEWA’s strategic position in the district cooling sector. District cooling is a critical enabler of sustainable urban infrastructure and energy efficiency across the Emirate.”
He added: “Empower has established itself as a global leader in district cooling, and this transaction reinforces our confidence in the company’s future potential, while enhancing DEWA’s ability to drive operational synergies, unlock long-term value, and support Dubai’s clean energy transition. We remain focused on pursuing strategic investments that align with Dubai’s economic priorities, accelerate sustainable development, and deliver strong, resilient returns for our shareholders and stakeholders over the long term. Empower will continue to operate as an independent public joint-stock company listed on the Dubai Financial Market, while maintaining its focus on providing efficient and sustainable district cooling services across Dubai.”
Strategic alignment with growth agenda
The transaction marks a milestone in DEWA’s long-term growth strategy. Moreover, it aligns with Dubai’s broader infrastructure and sustainability agenda. Therefore, the deal strengthens DEWA’s capacity to support energy efficiency objectives while reinforcing value creation in core utility-adjacent sectors.
