Dubai: Dewa to invest Dh40 billion in electricity, water projects in next 5 years
Dubai: Dewa to invest Dh40 billion in electricity, water projects in next 5 years
The Dubai Electricity and Water Authority (Dewa) on Wednesday said it plans to invest Dh40 billion in capital expenditure over the next five years, including the expansion of renewable and clean energy projects.
Saeed Mohammed Al Tayer, managing director and CEO of Dewa, said the utility services firm plans to invest about Dh16 billion to strengthen and expand electricity and water transmission and distribution networks. About Dh12 billion will be used to complete the Independent Power Producer (IPP) projects in the Mohammed bin Rashid Al Maktoum Solar Park, the Hassyan Power Complex and the Independent Water Producer (IWP) projects at Hassyan, in addition to completing other ongoing projects in infrastructure and smart systems.
Dewa’s subsidiary, the Emirates Central Cooling Systems Corporation (Empower), plans to spend around Dh3 billion mainly to expand district cooling capacity and network to meet demand growth for district cooling services.
Al Tayer said Dewa is working to provide an advanced infrastructure that meets the requirements of sustainable development.
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“We are committed to the ‘Projects of the 50’, part of the wise leadership’s directives, to enhance cooperation between the public and private sectors and provide promising investment opportunities. We have strategic partnerships with various local and international companies to implement renewable energy and water desalination projects according to the IPP model. Thanks to the IPP model, Dewa achieved many world records in the lowest solar energy prices (Levelised Cost of Electricity), making Dubai a global benchmark for solar power prices,” said Al Tayer.
“Dewa will continue to invest and enhance renewables’ generation capacity, through informed plans based on the latest tools for future foresight, in order to meet the increasing demand for electricity and water… Our plans will consolidate Dubai’s position as an advanced model that provides a favourable and supportive environment for investments,” added Al Tayer.
– waheedabbas@khaleejtimes.com
source: khaleejtimes
