Business

Tabreed pays Dh2.48b for stake in Downtown district cooling

Tabreed pays Dh2.48b for stake in Downtown district cooling

Dubai: Tabreed, the utility company, is picking up an 80 per cent stake in Emaar’s Downtown Dubai district cooling services for Dh2.48 billion. Emaar retains the other 20 per cent.

The long-term deal will “exclusively” provide up to 235,000 RT (refrigerated tonnes) of cooling to the master-development, which includes the Burj Khalifa, Dubai Opera and signature high-rises.

The district cooling scheme currently provides 150,000 RT of contracted capacity through a network that distributes chilled water produced in three interconnected district cooling plants. A fourth plant that is currently under construction.