Abu Dhabi’s Tourism Development & Investment Company (TDIC) has awarded a contract to Dalkia and Bahrain-based Arcapita to operate three district cooling plants on Saadiyat Island.
Dalkia, a subsidiary of Veolia Environnement and Electricité de France (EDF), and Arcapita will design, build, finance, operate and maintain the project for a period of 29 years.
During the concession period, Arcapita will provide the majority of financing for the project, while Dalkia will own 15 per cent of the joint venture, perform engineering works, manage the construction of the plants and operations.
The companies will recover their investment by charging each of the island’s properties for the provision of cooling.
The project will incorporate three plants providing a combined capacity of 50,000 tonnes of refrigeration and servicing a 27 square kilometre area. When it is complete, it will be one of the Middle East’s largest district cooling operations.
The project will supply district cooling to hotels in the Saadiyat Beach District, including the Park Hyatt Abu Dhabi Hotel and Villas, and St Regis Saadiyat Island Resort, both of which are due to open later this year.
In addition, Saadiyat Marina Apartments and Saadiyat Cultural District, comprising the Zayed National Museum, Guggenheim Abu Dhabi, Louvre Abu Dhabi and Performing Arts Centre will be supplied through the project.