UAE-based regional district cooling utility firm, National Central Cooling Company (Tabreed) is expanding its partnership with Abu Dhabi’s leading energy renewable company Masdar, by developing and connecting two companies’ infrastructure to help increase operating synergies.
“The collaboration represents another major milestone in Tabreed’s strategy of providing efficient cooling to sustainable cities around the world, and expands on Tabreed and Masdar’s existing relationship,” Tabreed said in a statement to the Dubai Financial Market, where its shares trade.
Tabreed acquired the district cooling company of Masdar City last year to provide cooling facilities to more than 2.7 million square meters of area in Masdar City, with an ultimate total capacity under the concession of 69,000 Refrigerated Tonnes (RT).
Bader Saeed Al Lamki CEO – Tabreed
“As an industry leader, our strategic partnerships have allowed us to diversify our operations and venture into innovative solutions that support our core business, such as deep geothermal technology, a first in the region. We are committed to developing these solutions to support the growth of sustainable urban communities like Masdar City, and we look forward to the continuation of a highly successful partnership with Masdar.”
Abdulla Balalaa, Acting Executive Director, Sustainable Real Estate, Masdar City said, “Masdar City is home to one of the largest low-carbon building clusters in the world, which offers potential annual energy savings of around 50,000 MWh for companies based there, resulting in OPEX savings of more than $2.72 million (AED 10 million).”
“Working with an industry leader such as Tabreed supports us in ensuring that our tenants benefit from the most sustainable and innovative cooling solutions while continuing to progress our shared goal of a more sustainable future for all,” added Mr. Balalaa.
The two companies have also announced that Tabreed will use its experience in the sector to carry out research and development tests on two deep geothermal wells in Masdar City. The experiments will review the feasibility of geothermal energy technology and its potential to dramatically reduce the consumption of electricity.
The latest development comes as Tabreed forges new alliances in the UAE with various businesses. Earlier this month, it has signed an agreement with master developer Miral to provide district cooling services on Yas Island at SeaWorld Abu Dhabi.
Thank you very much for choosing GCC Business News to be an important part of your professional life. You will receive a confirmation e-mail. Please check SPAM or UPDATES folder
