Tabreed

Tabreed acquired an 80% stake in Emaar Properties' Downtown Dubai district cooling business for Dh2.48 billion ($675 million). Emaar retains the remaining 20% stake. The concession provides up to 235,000 RT of cooling capacity.

Tabreed, a UAE-based cooling systems provider 40% owned by ENGIE, signed a 30-year concession agreement with the Andhra Pradesh Capital Region Development Authority to build, own and operate a district cooling system in Amaravati, India. The system will have a total capacity of 20,000 refrigeration tons covering 1 km² to supply government buildings.

Tabreed announced the acquisition of a 50% shareholding in S&T Cool District Cooling Company on Reem Island, Abu Dhabi, from Aldar Properties for Dh348 million, giving Tabreed 100% ownership. The plant has a connected capacity of over 31,500 RT.

ENGIE acquired a 40% stake in National Central Cooling Company PJSC (Tabreed) from Mubadala Investment Company, making ENGIE a key shareholder alongside Mubadala which retains 42%. The transaction is subject to regulatory approval.