The Hassyan Power Complex. Image Credit: Supplied

Dubai: The Dubai Electricity and Water Authority (DEWA) is budgeting Dh40 billion as capex for the next five years, which includes more investments in renewable and clean energy projects.

Around Dh16 billion will go into expanding electricity and water transmission and distribution networks, and Dh12 billion towards completing 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.

At the same time, the district cooling company Empower, which is 70 per cent owned by DEWA, plans to spend around AED 3 billion mainly to expand capacity and networks to meet demand growth.

“We are working in line with the vision of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to provide an advanced infrastructure that meets the requirements of sustainable development. We are committed to the ‘Projects of the 50’, part of the wise leadership’s directives, to enhance cooperation between the public and private sectors and provide promising investment opportunities. We have strategic partnerships with various local and international companies to implement renewable energy and water desalination projects according to the IPP model. Thanks to the IPP model, DEWA achieved many world records in the lowest solar energy prices (Levelised Cost of Electricity), making Dubai a global benchmark for solar power prices,” said Al Tayer.

“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,” added Al Tayer