Announced that the cash dividends for 2022 and 2023 will reach 6.2 billion dirhams

“Dubai Electricity”: 7.3 billion dirhams, expected profits during 2022

  • Saeed Mohammed Al Tayer: "Cash flows will reach 13.6 billion dirhams this year."

  • The Authority's installed production capacity exceeds 13,400 megawatts and 490 million gallons of desalinated water.

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Saeed Mohammed Al Tayer, managing director and CEO of Dubai Electricity and Water Authority (DEWA), said in an interview with CNBC Arabia, that the company expects to record strong results in the coming years, after the successful listing of the authority on the Dubai Financial Market. The profits of (Dewa) reach 7.3 billion dirhams during the current year.

He pointed out that "the disclosure of data for the first quarter will take place during the month of May."

On the cash distributions, Al Tayer indicated that the total amount for the years 2022 and 2023 will reach 6.2 billion dirhams, pointing out that cash flows during this year will reach 13.6 billion dirhams.

It is noteworthy that the IPO of the Dubai Electricity and Water Authority is the largest initial public offering ever in the United Arab Emirates, and the largest in the Europe, Middle East and Africa region since the beginning of 2022.

"Dewa" became the second largest listing in the history of the Middle East, with nine billion shares worth 22.3 billion dirhams, while the company's market value exceeded 143 billion dirhams.

Al Tayer added, "The authority's installed production capacity exceeds 13,400 megawatts and 490 million gallons of desalinated water, as the authority worked to strengthen its capabilities through several projects, which included the launch of a satellite (DiwaSat) in January, with the aim of using space technologies to enhance the operational effectiveness of control. With the electricity and water network, DEWA aims to fully operate its production capacity through clean energy by 2050.”

In addition, Saeed Mohammed Al Tayer received, at the authority's headquarters, the founder and CEO of the World Economic Forum, Professor Klaus Schwab.

Professor Schwab was briefed on the best practices adopted by the authority in the field of digitization and the adoption of the technologies of the Fourth Industrial Revolution, and extended an invitation to Al Tayer to attend the World Economic Forum, whose activities will be held in Davos, Switzerland, from May 22 to 26, 2022.

During the meeting, Al Tayer reviewed the most important projects, initiatives and programs carried out by the authority, pointing out that the main strategic direction for energy in Dubai is in line with the directives of the wise leadership, which is the expansion of clean energy projects, increasing reliance on technologies and strategies of the Fourth Industrial Revolution and digitization, and enhancing levels of A world leader in infrastructure, with the highest levels of reliability, efficiency and availability, and accelerating investments in disruptive technologies.

He stressed that as part of its efforts to keep pace with the Fourth Industrial Revolution, and to develop disruptive technologies in the field of energy and water, Dubai Electricity and Water Authority joined in 2018 as a partner of the Fourth Industrial Revolution Center of the World Economic Forum, becoming the first government service institution in the world to join the center, which is based in the city of It is based in San Francisco, USA, with the aim of keeping pace with the rapid changes, anticipating opportunities and challenges, developing long-term proactive plans and developing disruptive technologies, as the areas in which we participate include artificial intelligence, the Internet of things, “blockchain” technology, autonomous transportation, robotic aircraft, and others.

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