Tabreed signs deal with Miral to provide district cooling at SeaWorld Abu Dhabi

The company plans to build a new plant at Yas Island's upcoming theme park by 2022

Tabreed's cooling plant on Yas Island in Abu Dhabi. The company signed a new deal with developer Miral to provide district cooling services to SeaWorld Abu Dhabi. Victor Besa / The National 

National Central Cooling Company, also known as Tabreed, signed an agreement with master developer Miral to provide district cooling services at SeaWorld Abu Dhabi on Yas Island.

Tabreed will connect the new SeaWorld Abu Dhabi development to its existing Yas Island district cooling scheme to deliver a cooling capacity of 7,500 refrigeration tonnes (RT) to the project, the company said in a statement on Wednesday to the Dubai Financial Market, where its shares trade.

The company is also planning to build a new plant by 2022 to serve SeaWorld Abu Dhabi as well as other future developments on Yas Island. It did not provide financial details of the deal.

“We look forward to further strengthening our long-standing partnership with Miral through the development of this key plant on Yas Island,” Bader Al Lamki, Tabreed’s chief executive, said.

The latest deal comes as Tabreed expands its footprint in the capital. Last month, it bought two district cooling units on Saadiyat Island from Aldar Properties for Dh963 million ($262m).

Saadiyat District Cooling and Saadiyat Cooling provide district cooling services to Saadiyat Island, the Louvre Abu Dhabi, NYUAD, and Manarat Al Saadiyat.

Tabreed, in which French utility Engie and Mubadala Investment Company own significant stakes, currently operates 86 district cooling plants, delivering more than 1.399 million RT of cooling to districts in the UAE and across the GCC.

In April, Tabreed bought a majority stake in Emaar Properties' Downtown Dubai district cooling business for Dh2.48 billion. The deal, financed through a corporate loan, gave Tabreed an 80 per cent stake, with Emaar retaining the balance under a long-term partnership deal.

SeaWorld Abu Dhabi is a marine life theme park being developed by Miral on Yas Island that also has other attractions including Warner Bros, Yas Water World and Ferrari World. Construction work on the project is due to be completed by the end of 2022.