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UAE district cooling developer acquires business with two geothermal wells

Building in Masdar City, Abu Dhabi (source: flickr/ rollercoasterphilosophy, creative commons)
Alexander Richter 16 Jan 2020

As part on an acquisition of Masdar City district cooling plants and concession, UAE-based district cooling developer acquired the use of two deep geothermal wells located in Masdar City that are a part of a major research & development collaboration initiative, with further plans to utilise its expertise for development.

In an announcement shared in conjunction with the Abu Dhabi Sustainability Week (ADSW) in the United Arab Emirates (UAE).

The National Central Cooling Company PJSC (DFM: Tabreed), the leading UAE-based international district cooling developer, has announced an agreement to acquire the Masdar City district cooling plants and concession, which will grow to provide efficient cooling services to more than 2.7 million sq.m of sustainable urban communities in Masdar City, with a total capacity of about 69,000RT. In line with the ethos of Masdar City, this will continue to be the most efficient and sustainable cooling system in the Middle East. This advancement represents a major milestone in Tabreed’s strategy of providing efficient cooling to sustainable cities around the world.

In addition to the plant, Tabreed will also acquire the use of two deep geothermal wells located in Masdar City that are a part of a major research & development collaboration initiative, which will see Tabreed leverage its sector expertise and innovative approach to create unique, reliable and sustainable cooling solutions through geothermal technology.

The agreement was announced during Abu Dhabi Sustainability Week (ADSW), a global platform that brings together a unique fusion of industry leaders and policy makers to share knowledge, implement strategies and deliver solutions that will help drive human progress. The signing was witnessed by Mr. Khaled Al Qubaisi, Chairman of Tabreed and CEO Aerospace, Renewables and ICT at Mubadala, and Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar

Bader Al Lamki, Tabreed’s Chief Executive Officer, said: ‘At Tabreed, we are committed to developing sustainable technologies and innovative advanced cooling solutions that support the growth of sustainable urban communities. We will be integrating, in operating the plant, our state-of-the-art AI module control system that will more efficiently and economically adjust the plant’s operating parameters to the specific cooling requirements thus further reducing carbon emissions across the city and beyond.’

‘As an industry leader, our strategic and solid partnerships have allowed us to diversify our operations and venture into energy solutions such as geothermal technology. We look forward to the continuation of a highly successful partnership with Masdar as it paves the way to achieving the ambitious energy efficiency targets set for the city,’ added Al Lamki.

‘This agreement reflects the progress Masdar City has made in developing its residential and commercial portfolio and our commitment to providing the most innovative solutions available,’ said Yousef Baselaib, Executive Director, Sustainable Real Estate at Masdar. ‘By working with an industry-leading specialist in Tabreed, we can be sure our clients will benefit from the best cooling solutions, meeting the City’s needs now and in the future. Tabreed’s expertise in leveraging emerging technologies such as artificial intelligence will help Masdar City meet its sustainability objectives.’

Masdar City is a world-renowned green city and one of the world’s most sustainable urban communities; it is home for some of Abu Dhabi’s most iconic and sustainable buildings, including the UAE Space Agency HQ, MAF Masdar City Center, IRENA HQ as well as Siemens HQ. It is a low-carbon development made up of a rapidly growing clean-tech cluster, business free zone and residential neighborhood with restaurants, shops and public green spaces. Sustainability is the key ethos of Masdar City, sharing Tabreed’s vision of efficient and low-emission urban developments.

With over 20 years of operational excellence, Tabreed is the partner of choice for organizations interested in benefiting from environmentally friendly district cooling solutions that support the region’s energy sustainability strategy. With 80 district cooling plants across the region, Tabreed currently delivers over 1.16 million refrigeration tons to key developments, including iconic infrastructure projects such as Sheikh Zayed Grand Mosque, Abu Dhabi’s Al Maryah Island, Yas Island, Dubai Metro, Dubai Parks and Resorts, Bahrain Financial Harbour in Manama, Kingdom of Bahrain and the Jabal Omar Development in the Holy City of Mecca, Kingdom of Saudi Arabia.

Source: Company release