200 billion dirhams, the value of the assets of the «Dubai Electricity Authority»

Saeed Mohammed Al Tayer, Managing Director and CEO of Dubai Electricity and Water Authority

Saeed Mohammed Al Tayer, Managing Director and CEO of Dubai Electricity and Water Authority, said that "the authority has achieved global results in technical and financial performance indicators that are comparable to the largest global service companies, and succeeded in diversifying sources of income through pioneering projects in various fields in the field of energy and water, according to the highest Standards of reliability and efficiency,” noting that “the authority enjoys a strong financial performance backed by assets amounting to about 200 billion dirhams.”

In a recent statement to the authority, following the decision to list the Dubai Electricity and Water Authority on the Dubai Financial Market in the coming months, he indicated that the authority has more than one million dealers, and the number of new accounts is growing by about 7% annually, and we have investments of more than 86 billion dirhams over five years to meet The increasing demand for electricity and water in the emirate through a clear strategy and roadmap to transform Dubai into a center of excellence in the necessary and necessary new technologies to achieve zero carbon emissions and reach 100% of clean energy by 2050.”

 He added, "The authority has succeeded in gaining the confidence of major investors to work in the major projects that we are implementing, especially in the field of renewable and clean energy under the independent product system, through which the authority has attracted about 40 billion dirhams, and the authority is working through its diverse portfolio of projects to transform Dubai into A global center for clean energy, as it combines its work with various disruptive technologies, with a focus on diversifying the energy mix.

He stressed that "the listing of the authority on the Dubai Financial Market confirms the confidence of global investors in the government of Dubai and its affiliated institutions, and the strong position that the authority enjoys, noting that this listing will help the authority to expand its business base and will contribute to providing new jobs for citizens, support the business sector and strengthen strategic partnerships. between the public and private sectors, encourages creativity and innovation, and enhances Dubai’s position as a leading global platform for attracting global investments and a major tourist destination in support of the Dubai Urban Plan 2040, which aims to make it the best city for life.”

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