“We also continue to see positive results from our extensive involvement in the UAE’s push for sustainability. Our plants are modern, clean, efficient, reliable and instrumental in reducing environmental impact. That’s undoubtedly good for business and we’re at the very heart of this progressive country’s green agenda.”
Tabreed, in which French utility Engie and Mubadala Investment Company own significant stakes, currently operates 86 district cooling plants across the Gulf, 73 of which are in its home market in the UAE. It operates five plants in Oman, three in Saudi Arabia and one in Bahrain.
The company is currently in talks with fellow shareholders in Qatar Cooling Company about a potential sale of its stake, according to a note in its financial statements. It expects a deal to be reached within the next 12 months.