Dubai Electricity intends to invest 40 billion dirhams over 5 years
Al Tayer during his meeting with the delegation of the International Finance Corporation.
Wham
The Managing Director and CEO of Dubai Electricity and Water Authority, Saeed Mohammed Al Tayer, received a high-level delegation from the International Finance Corporation of the World Bank Group, which included Dr. Sufian Al-Essa, Head of Mission of the International Finance Corporation in the country.
Al Tayer explained that the authority has plans to invest 40 billion dirhams in capital expenditures within five years, especially to expand renewable and clean energy projects.
DEWA has a strong infrastructure to meet the growing demand, support the green economy and enhance the UAE's competitiveness in the field of clean energy and energy efficiency technologies.
The Authority has adopted the Independent Power and Water Producer (IPWP) model, which has contributed to a significant reduction in capital expenditure per megawatt of installed energy, and the Authority has attracted investments of about 40 billion dirhams using this model.
DEWA achieved many world records in the lowest cost prices for solar energy and desalinated water, making Dubai a global benchmark for solar energy and desalinated water prices.
The visit comes within the framework of strengthening cooperation between DEWA and the International Finance Corporation, and reviewing the Authority's achievements, initiatives and projects to make Dubai the best city in the world for living, working and visiting, consolidating its position as a global center for economy and trade, promoting the comprehensive and sustainable development process, attracting foreign investments and achieving the happiness of citizens, residents and visitors. .
Al Tayer reviewed DEWA's efforts to contribute to the prosperity of Dubai's economy, as DEWA has become a model to be followed worldwide in terms of energy efficiency and reliability, the provision of its services in accordance with the highest standards, reliability, efficiency and quality, and keeping pace with the increase in demand for energy and water by raising the production capacity, which currently reaches 14,317 megawatts of electricity and 490 million gallons of desalinated water per day, in addition to raising the capacity of the transmission and distribution networks in line with the great expansion witnessed by Dubai, as the authority provides electricity and water services to about 3.5 million residents of Dubai, and more than 4.7 million people during the day.
He touched on the Authority's work and activities, the most important development projects and other strategic initiatives implemented by the Authority in line with the objectives of the Dubai Clean Energy Strategy 2050.
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