Tabreed announces successful completion of ENGIE investment

Abu Dhabi, August 16: The National Central Cooling Company (Tabreed), has announced that France-based ENGIE is now officially its shareholder after successfully acquiring 40% of shares, the company said through a Press communiqué. Speaking on the development, Jasim Thabet, CEO of Tabreed, said: “With the successful completion of the transaction by ENGIE, we as a regional company are advancing to international frontiers. We look forward to harnessing ENGIE’s best-in-class operational and project financing excellence, which will build on our financial strength and leading market position to support us in the next phase of our ambitious growth plans. “With the region’s growing cooling demand driven by population growth and investment in key infrastructure and development projects, our focus remains on the GCC, while we will evaluate opportunities outside the region.”