DEWA records public-private partnerships worth Dh43.6 billion since 2014
DEWA's independent power, water producers model brings in more public-private partnerships
Dubai: Dubai Electricity and Water Authority (DEWA) recorded investments worth Dh43.6 billion in over 10 years of public-private partnerships and tie-ups with international investors and developers, which the government-owned utility attributed to its Independent Power and Water Producer (IPWP) model.
The Independent Power and Water Producer (IPWP) model, which DEWA developed as a pioneering model of public-private partnership for electricity and water production in Dubai, is in line with efforts to consolidate sustainability as a key component of business strategy.
Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), on Sunday emphasised that “DEWA works in line with the vision and directives of Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to make Dubai a global hub for the green economy.”
Lowest cost of energy
“Through this model, DEWA has achieved the lowest Levelised Cost of Energy (LCOE) in the world in solar energy projects, making Dubai a global benchmark for solar energy prices,” said Al Tayer, while highlighting that DEWA developed the Independent Power and Water Producer (IPWP) model by utilising the best international experiences and practices.
This model has been designed to align with the requirements of Dubai and its legislative and technical environment, while encouraging partnerships between the government and private sectors in the Emirate.
“The regulatory and legislative frameworks in Dubai, which allow the private sector to participate in energy generation projects, encourage international investors and developers to participate in the Mohammed bin Rashid Al Maktoum Solar Park’s projects, which DEWA is implementing using the IPP [Independent Power Producers] model,” said Al Tayer.
“Our IPWP projects support the Dubai Economic Agenda D33, which aims to double the size of Dubai’s economy over 10 years and consolidate its position among the top three global cities. They also align with the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy 2050 to provide 100 per cent of the energy production capacity from clean energy sources by 2050.”
Pioneering energy and water projects
DEWA contributes to attracting foreign investments through its pioneering energy and water projects based on the Independent Power and Water Producer (IPWP) model. DEWA has adopted this model since 2014, replacing the Engineering, Procurement and Construction (EPC) model.
Among DEWA’s key IPP projects is the Mohammed bin Rashid Al Maktoum Solar Park, the largest single-site solar park in the world, with a planned production capacity of over 5,000MW by 2030 and a total investment of Dh50 billion. DEWA has inaugurated 5 phases of the solar park and is currently implementing the 1,800MW 6th phase, costing around Dh5.5 billion. Several global consortiums took part in implementing these phases, led by major companies such as Saudi Arabia’s ACWA Power and Abu Dhabi Future Energy Company (Masdar), among others.
DEWA’s other energy projects based on the IPP model include the Hassyan Power Complex, which runs on natural gas. The 2,400MW power complex is one of the largest power stations in the region, using the latest international technologies in energy production.
DEWA is also implementing a 180 million imperial gallons per day (MIGD) seawater reverse osmosis (RO) desalination project in Hassyan using the Independent Water Producer model. It is the world’s largest project of its kind using RO technology based on the Independent Water Producer (IWP) model, with an investment of Dh3.4 billion.