Tabreed to bring district cooling to Palm Jebel Ali: UAE district cooling company Tabreed has signed a concession agreement with Dubai Holding Investments for an AED 1.5 bn project to provide 250k refrigeration tons (RT) of district cooling capacity to Palm Jebel Ali in Dubai, according to a press release (pdf) issued on Monday. Tabreed will hold 51% of the joint venture, while Dubai Holding will get 49%. Construction is set to begin in 2Q 2025, with the first cooling services expected by 2027.

Tabreed has been busy: The company saw an increase in consumption volumes to 2.66 bn refrigeration hours in 2024, with connected capacity hitting 23.8k RT, and added 23.6k RT to its portfolio of 92 plants. It also expanded existing plants, including in India and Egypt, and commissioned two new greenfield plants in the UAE and Oman.

ICYMI- Earlier this month, Tabreed finalized a USD 700 mn green sukuk issuance that was 2.6x oversubscribed.

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