Sun 17-07-2022 22:01 PM
DUBAI, 17th July, 2022 (WAM) -- Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA), announced that the capacity of DEWA’s current projects with the private sector using the Independent Power Producer (IPP) model exceed 4,000 megawatts (MW), with investments amounting to over AED40 billion.
He said that through this model, DEWA was able to save an additional investment of approximately AED 26 billion, which allows DEWA to invest in other infrastructure projects. Al Tayer noted that the IPP model encourages partnership between the public and private sectors. Through this model, DEWA has achieved world-class results and developed a new benchmark for solar energy prices for every kilowatt hour, thus making Dubai a global benchmark for solar energy prices. DEWA attracted promising investments to the UAE from the private sector and foreign banks, which led to an increase in cash flow to the economy of Dubai and the UAE.
Al Tayer added that the regulatory and legislative frameworks in Dubai enable the private sector to participate in energy generation projects in the emirate of Dubai and encouraged international investors and developers to participate in the projects at the Mohammed bin Rashid Al Maktoum Solar Park, which is implemented by DEWA using the IPP model.
"The IPP projects contribute to achieving the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to make Dubai the global capital of the green economy and support the goals of the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy 2050 to provide 100 percent of Dubai’s power capacity from clean energy sources by 2050. Previously, DEWA adopted the EPC model (Engineering, Procurement and Construction) for our power generation projects. Since 2014, DEWA has pioneered the IPP project management and implementation model," Al Tayer explained.
DEWA’s key projects using the IPP model include Mohammed bin Rashid Al Maktoum Solar Park, Hassyan Power Complex and Hassyan Desalination Plant.