DEWA Stands as a Key Contributor to Sustainable Investments among National Entities

Dubai Electricity and Water Authority (DEWA) stands as a prominent national entity, drawing significant interest from both public and private sector investors. With a strong focus on fostering global clean and renewable energy projects, DEWA continues to pioneer environmentally friendly financing solutions and innovative climate finance methods to combat the impacts of climate change.

The Independent Power Producer (IPP) projects spearheaded by DEWA serve as a cornerstone for fostering communication and collaboration among partners, establishing a novel financing model addressing both climate and developmental requirements. This strategic approach reinforces sustainable investments and forms the basis for a forward-thinking financing paradigm in line with international standards.

Sustainable financing emerges as a hallmark in the UAE’s commitment to consolidating eco-friendly solutions, notably underpinning one of the pillars of the United Nations Framework Convention on Climate Change (COP28), hosted at Expo City Dubai from November 30 to December 12, 2023.

HE Saeed Mohammed Al Tayer, MD & CEO of DEWA, emphasized the alignment with the directives of UAE’s leadership to bolster comprehensive development and constructive public-private partnerships. “Since 2014, DEWA’s IPP project management has attracted over AED 43 billion in investment, enhancing our capabilities in providing sustainable energy and water to Dubai,” highlighted Al Tayer.

DEWA aims to achieve the ambitious Dubai Clean Energy Strategy 2050 and Dubai Net Zero Carbon Emissions Strategy 2050, necessitating approximately 42,000MW of clean and renewable energy by 2050. Al Tayer emphasized the importance of effective governance to instill confidence among investors, aligning with Dubai’s legislative and technical requirements through the IPWP model.

David Haigh, Chairman & CEO of Brand Finance, commended DEWA’s role in mobilizing investments for the green energy transition, emphasizing its significance in driving collaboration between public and private sector stakeholders towards the UAE Green Agenda and international climate goals.

DEWA’s current projects with the private sector through the IPP model surpass 4,000MW, contributing to substantial savings of approximately AED 26 billion, facilitating investments in other infrastructure projects. These endeavors have positioned Dubai as a global benchmark for solar energy prices, setting world-class standards in the field.

Among DEWA’s key investment projects using the IPP model, the Mohammed bin Rashid Al Maktoum Solar Park remains a standout, anticipated to reach a production capacity of 5,000MW by 2030, with total investments of AED 50 billion. Additionally, the Hassyan Power Complex and Hassyan water desalination plant underscore DEWA’s commitment to driving sustainable solutions and attracting significant investments to Dubai.

DEWA’s commitment to global events like the World Green Economy Summit and WETEX and Dubai Solar Show demonstrates its commitment to fostering international collaboration, creating platforms for knowledge exchange, and exploring investment opportunities in crucial sectors. These initiatives signify DEWA’s pivotal role in driving global sustainability agendas.