Milestones

Tabreed is well-placed to reap the benefits of the district cooling industry's growth in the GCC region. Through the years, the company has celebrated several milestones that contributed to its current stature as one of the most-respected district cooling utility companies in the world.

1998

  • Tabreed launched
  • Public issue completed during the year with an initial paid-up capital of AED 250 million

1999

  • First plant in Tabreed’s portfolio commissioned in Suweihan at Zayed Military City

2000

  • Signed a master agreement with GHQ

2001

  • Awarded 20 year contract with Al-Ain Municipality

2002

  • Sheikh Zayed Road plant commissioned in Dubai

2003

  • Qatar Cool, Tabreed’s first joint venture in the GCC, launched
  • Paid-up capital increased to AED 1.213 billion

2004

  • Received two gold awards from the International District Energy Association (IDEA) 
  • Entered into a joint venture to launch Tabreed Bahrain

2005

  • Signed an agreement with the RTA to supply cooling to the Dubai Metro
  • Signed a master services agreement with Aldar to provide cooling to the various Aldar developments  across Abu Dhabi

2006

  • Signed an agreement with Saudi Arabia’s A. Abunayyan Group to launch Saudi Tabreed 
  • Tabreed Oman launched
  • Won IDEA’s two gold awards for the second time
  • AED 735 million debt sukuk successfully issued

2007

  • Received IDEA’s Global Partner and two world awards

2008

  • Mandatory convertible trust certificates of AED 1.7 billion issued

2009

  • Qatar Cool commenced chilled water supply on The Pearl – Qatar
  • Inaugurated the Yas Island plant which provides district cooling to the Yas Marina Circuit for the F1 Abu Dhabi Grand Prix

2010

  • Delivered 13 new plants
  • Recapitalization program launched

2011

  • Completed the recapitalization program putting in place a stable, long-term capital structure and raising additional capital of up to AED 3.1 billion
  • 11 new plants (8 for the Dubai Metro Green Line) completed

2012

  •  Inaugurated 1 plant in Ajman
  •  Expanded UAE University plant in Al Ain

2013

  • 1 plant with a capacity of 27,000 RT came online in Saudi Arabia
  • Won two IDEA awards

2014

  • Acquired a district cooling plant on Al Maryah Island
  • Won two IDEA awards
  • Signed contract to provide 45,600 RT to Dubai Parks and Resorts
  • Signed new agreement with UAE University
  • Renewed master services agreement with the United Arab Emirates Armed Forces. The new contract is valued at AED 6 billion
  • Signed a contract for the construction of a fourth district cooling plant in the State of Qatar

2015

  • Appointment of Steve Ridlington as Chief Financial Officer (CFO)
  • Approved dividend distribution of five fils per share
  • Commenced Chilled Water Supply to Al Hilal Bank Tower on Al Maryah Island
  • Shareholders approved the proposal presented in the Ordinary General Assembly to buy back 28 per cent of the mandatory convertible bonds held by Mubadala
  • Completed the signing of an AED 192.5 million long term limited recourse project finance facility with Emirates NBD for the district cooling plant it is developing for Dubai Parks and Resorts

2016

  • Tabreed reduces energy consumption by 1.3 billion kilowatt hours in 2015
  • Surpassed 1 Million Refrigeration Tons milestone
  • Portfolio increased to 70 district cooling plants throughout the GCC
  • Commenced the supply of chilled water to Dubai Parks and Resorts for more than 30,000 Refrigeration Tons of cooling

2017

  • Acquired a district cooling plant that provides cooling to ICT’s Nation Towers development, with cooling capacity of 11,500 Refrigeration Tons
  • Portfolio increased to 71 district cooling plants throughout the GCC