Tabreed And Dubai Holding Sign Agreement For Sustainable District Cooling At Palm Jebel Ali

National Central Cooling Company, known as Tabreed, has partnered with Dubai Holding Investments to deliver district cooling services for Palm Jebel Ali in Dubai. This collaboration forms a joint venture where Tabreed holds a 51% stake and Dubai Holding Investments 49%. The partnership aims to optimise cooling capacity, improve information sharing, and enhance customer protection while ensuring sustainable cooling solutions for this significant development.

The agreement is supported by Tabreed's major shareholders: Mubadala, a sovereign investor with a 42% stake, and ENGIE, a French low-carbon energy company holding 40%. Khalid Al Marzooqi, CEO of Tabreed, and Omar Karim, CEO of Dubai Holding Investments, signed the agreement in the presence of senior officials from Tabreed, Dubai Holding, Mubadala, and ENGIE.

Construction of the district cooling network is anticipated to begin in the second quarter of 2025. The first cooling services are expected to be operational by 2027. The system will eventually meet the demand for approximately 250,000 refrigeration tonnes (RTs) of cooling capacity. An estimated AED1.5 billion investment will be required to achieve this goal.

Dr. Bakheet Al Katheeri, Chairman of Tabreed and CEO of Mubadala’s UAE Investments Platform, stated that "Mubadala has a worldwide reputation for being a responsible investor with an unwavering focus on its ESG framework and Tabreed is a vital part of our portfolio as a driver of sustainability and societal progress." He emphasised that this agreement marks a significant milestone in Tabreed’s history.

Omar Karim expressed that "This agreement reinforces Dubai Holding’s long-term vision of developing sustainable communities with high-quality infrastructure at their core." He highlighted that incorporating district cooling services into Palm Jebel Ali supports customers while aligning with their commitment to creating future-ready urban environments.

Khalid Al Marzooqi remarked on the transformative nature of Palm Jebel Ali as a project that will shape Dubai’s future. He noted the pride in contributing to ensuring its infrastructure meets world-class standards. This partnership underscores both companies' dedication to sustainable development through innovative cooling solutions.

With inputs from WAM