Wed 20-07-2022 11:50 AM
DUBAI, 20th July, 2022 (WAM) -- Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), announced that DEWA has plans to invest AED40 billion on capital expenditure in the next five years including the expansion of renewable and clean energy projects.
He noted that DEWA plans to invest about AED16 billion to strengthen and expand electricity and water transmission and distribution networks, about AED12 billion to complete the Independent Power Producer (IPP) projects in the Mohammed bin Rashid Al Maktoum Solar Park, the Hassyan Power Complex and the Independent Water Producer (IWP) projects at Hassyan, in addition to completing other ongoing DEWA projects in infrastructure and smart systems.
The Emirates Central Cooling Systems Corporation (Empower), which is 70% owned by DEWA, plans to spend around AED3 billion mainly to expand district cooling capacity and network to meet demand growth for district cooling services.
"DEWA will continue to invest and enhance renewables’ generation capacity, through informed plans based on the latest tools for future foresight, in order to meet the increasing demand for electricity and water. We provide our services in accordance with the highest levels of quality, availability, reliability and efficiency and will keep pace with the rapid growth of Dubai across all areas. Our plans will consolidate Dubai’s position as an advanced model that provides a favourable and supportive environment for investments," said Al Tayer.