Tabreed renews Dh6bn deal with UAE Army

National Central Cooling Company (Tabreed), the Abu Dhabi-based district cooling utility infrastructure company, today announced the renewal of its district cooling master services agreement (MSA) with the UAE Armed Forces (UAEAF) estimated to be worth Dh6 billion.

Under the new agreement, which builds upon the MSA signed between the two entities in 2000, Tabreed will continue to supply the UAEAF’s existing and prospective facilities with district cooling services for the next 20 years.

Additionally, new projects are currently under discussion between Tabreed and the UAEAF.

Tabreed shares jumped nearly 9 per cent on opening trade on Tuesday on the Dubai bourse. Its share was up 18 fils, or 8.9 per cent, to Dh2.20 in the morning trade.

A spokesperson for the UAEAF said: “We are pleased to extend our agreement with Tabreed, who have been a strategic partner to the UAE Armed Forces for more than a decade. We are excited to continue working with Tabreed to acquire reliable and energy-efficient district cooling services to support our commitment to greater sustainability, enabling us to make significant reductions in our energy consumption and thereby lower our carbon footprint.”

Jasim Husain Thabet, Tabreed’s CEO, added: “It is a source of great pride for us to renew our long-standing partnership with the UAE Armed Forces, a key supporter of Tabreed since the company’s inception 15 years ago. This long-term collaboration is a clear endorsement of the energy, environmental and economic benefits of Tabreed’s district cooling services.”

Tabreed’s first district cooling plant was commissioned by the UAEAF in 1998 to service their facilities in Abu Dhabi.

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