Emirates Power Investment
Dubai Holding subsidiary that sold its 24% stake in district cooling company Empower to DEWA in February 2026 and took ICD's 22.27% stake in Emaar Properties in May 2026.
Industry: Investment holding | Location: United Arab Emirates
About Emirates Power Investment
Emirates Power Investment LLC, known as Emirates Power or EPI, is a company owned by Dubai Holding, the holding group founded in 2004. Dubai Holding's press release on the sale of its Empower stake names EPI as the seller, and MEED describes it as wholly owned by Dubai Holding. The pages reviewed do not publish EPI's founding date, headquarters, management or accounts.
EPI held 24 percent of Emirates Central Cooling Systems Corporation, known as Empower, a district cooling company listed on the Dubai Financial Market. On 10 February 2026 Dubai Electricity and Water Authority bought 2.4 billion Empower shares from EPI at AED 2.16 per share, a total of AED 5.184 billion, raising its holding in Empower from 56 percent to 80 percent, according to Gulf News. Empower remains listed and continues as an independent company. Amit Kaushal, Group Chief Executive Officer of Dubai Holding, said in the release that the sale reflected a disciplined approach to portfolio management and let the group reallocate capital toward a globally diversified investment strategy.
On 11 May 2026 Investment Corporation of Dubai transferred its entire shareholding in Emaar Properties to EPI, according to a statement posted on the Dubai Financial Market and reported by Khaleej Times. EPI now owns 22.2723 percent of Emaar's issued shares and ICD holds none, and the Dubai Holding group's total stake in Emaar rose to 29.73 percent. Dubai Holding's own release of 12 May 2026 described the deal as Dubai Holding acquiring a 22.27 percent stake from ICD and becoming Emaar's largest shareholder, without giving a price. TechScoop reported a value of about AED 23.9 billion, a figure that neither the Khaleej Times report nor the Dubai Holding release contains.
EPI has no published funding rounds, products or customers on the pages reviewed. In both transactions it is the entity named as the seller or holder of the shares.