Following the success of its inaugural course, the Dubai Electricity and Water Authority (DEWA), in partnership with the Gulf Renewable Energy Lab, has successfully conducted a second intensive training program for the ‘Financial Modelling & Analysis of Renewable Energy Projects’ international certificate.
The course attracted professionals holding bachelor’s degrees or diplomas in mechanical or electrical engineering, as well as those with finance qualifications specializing in project financing and renewable energy evaluation. Participants developed the skills and confidence required to plan, invest in, and analyze renewable energy projects through comprehensive financial models.
The training covered essential elements critical to the successful development of renewable energy projects, following global best practices. Topics included the Levelised Cost of Electricity (LCOE), renewable energy resources, resource maps, and the impact of resource utilization on energy costs. The course also explored the cost structures of photovoltaic (PV) and wind projects, capital and operational expenditures in the Middle East and North Africa (MENA) region, and the distribution of costs.
In addition to financial modelling, the program highlighted key components of renewable energy project development such as capital, financial viability, corporate finance versus project finance, and evolving risk profiles during project development.
This initiative is part of DEWA’s efforts to accelerate the energy transition, expand clean and renewable energy projects, and foster youth participation. The program supports the Dubai Clean Energy Strategy 2050 and Dubai’s Net Zero Carbon Emissions Strategy 2050, aiming to achieve 100% clean energy production by 2050. The first cohort of 25 participants graduated from the program in February 2024.
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