DUBAI, UAE, 8 June 2023: H.E. Ahmad Bin Shafar, CEO, Emirates Central Cooling Systems Corporation PJSC (Empower), participated as a keynote speaker in the opening panel discussion of global leaders at the International District Energy Association (IDEA) Conference, Chicago, USA, the District Cooling utility provider announced in a Press release. According to the release, the session featured a panel comprising prominent global leaders and decision-makers in the District Energy sector. Further, the company said, the discussions revolved around many crucial topics, primarily focusing on the recent trend in investing in the District Energy sector and increased resilience and acceleration of the transition to a lower-carbon future. The IDEA Conference & Tradeshow 2023 took place from June 5 to 8, 2023, under the theme ‘Empowering the Next Generation’. 

Empower said the panel discussion witnessed huge participation of decision-makers and experts of the District Cooling sector and potential investors worldwide. According to the Press release, H.E.Bin Shafar emphasised the remarkable interest displayed by retail and institutional investors in investing in the District Cooling sector and mentioned Empower’s experience with its Initial Public Offering (IPO), which received a staggering oversubscription rate of 47 times. He also highlighted the investors’ confidence in Empower, citing factors such as the company’s performance, resilient business model, and recent successful acquisitions, and pointed out that this deep investor confidence stems from various economic, climatic, demographic, and social reasons, the release said. Commenting on the government policies to promote District Cooling in the region, H.E. Bin Shafar said, “The UAE Energy Strategy 2050, the Dubai Clean Energy Strategy, UAE Net Zero 2050, and the Dubai Carbon Abatement Strategy 2030 have collectively established a culture among the real estate development industry, owners and end users to adopt District Cooling systems.” 

H.E. Ahmad Bin Shafar

H.E. Bin Shafar stressed to the participants the importance of expanding the scope of the District Cooling industry worldwide to gain the benefits of District Cooling in a circular economy, protect natural resources, and preserve the environment for generations to come, the company said.  

The District Cooling utility provider said, during the panel discussion, which marked high interaction among the participants, H.E. Bin Shafar highlighted Empower’s position in leading this globally vital industry by adopting the most advanced and unique technologies in the District Cooling operations. H.E. Bin Shafar also underlined the increasing demand for District Cooling services in the Middle East as a preferred alternative to conventional air conditioners and mentioned that the company is currently working on various strategies to enter new markets, including the United States, while reviewing Empower’s plans, the release said.  

According to the Press release, the Conference highlighted Dubai’s strengths and pioneering experience in the District Cooling sector while reviewing various effective solutions to increase energy efficiency and reduce carbon emissions towards net-zero and the role of District Cooling in achieving sustainable cities. The release said the Conference also discussed energy budgets and operational efficiency through automation and machine learning in the District Cooling industry.