Emirates Central Cooling Systems Corporation PJSC (Empower) has confirmed that Dubai Electricity and Water Authority PJSC (DEWA) will raise its ownership in the company to 80 percent following a transfer of shares previously held by Emirates Power Investment LLC (EPI), strengthening DEWA’s controlling stake in the world’s largest district cooling services provider.
The update follows DEWA’s announcement of an agreement to transfer EPI’s full shareholding in Empower through Dubai Central Securities Depository LLC. Upon completion of the transaction, EPI will no longer hold any shares in the company.
Empower, which is listed on the Dubai Financial Market, said the change reflects a shift in its ownership structure but does not alter its operational strategy or corporate status.
Under the revised structure, DEWA’s shareholding will rise from 56 percent of Empower’s issued share capital to 80 percent, consolidating its position as the company’s majority shareholder.
Empower emphasized that it will continue to operate as an independent public company, maintaining its mandate to deliver efficient, reliable, and sustainable district cooling services across Dubai.
The company remains a key player in supporting Dubai’s sustainability objectives, with district cooling recognized as a critical solution for reducing energy consumption and carbon emissions in large-scale urban developments.
The transaction underscores DEWA’s long-term commitment to the district cooling sector and to strengthening the integration of utility services that support the emirate’s growth and energy transition goals.
News Source: Dubai Media Office
