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PAL Cooling Holdings

PAL is one of the key players in the utilities sector of the UAE and is one of the key players in the UAE’s district cooling industry. PAL holds seven long-term exclusive concession agreements to provide district cooling services to prominent mixed-use developments located across the Emirate of Abu Dhabi where PAL provides district cooling solutions to residential, commercial and retail projects.

PAL operates its district cooling plants under Build-Own-Operate-Transfer (“BOOT”) arrangements with master developers and enters into long-term concession agreements with the master developers typically for a period of 30 to 35 years. Such long-term concession agreements help PAL generate a steady stream of revenues, high margins and stable cash flows.