DEWA leads the drive for the UAE’s sustainable economy through global partnerships and innovations

The Dubai Electricity and Water Authority (DEWA) supports the directives of the wise leaders to achieve a sustainable economy that serves the UAE’s national agenda.

This is achieved through strategic partnerships with the private sector to implement world-leading projects in clean and renewable energy, as well as organizing global events that contribute to attracting investments to support sustainability in the UAE and the region.

DEWA is committed to fostering public and private sector engagement to achieve global climate ambitions and scale up climate finance. This is in line with the wise vision of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates; and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai. This also supports the objectives of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28), which will be held in the United Arab Emirates at Expo City Dubai from November 30 to December 12, 2023, where DEWA participates as the main route. Couple.

“Independent Power Producer (IPP) projects contribute to enhancing the UAE’s efforts to develop climate financing methods and consolidate Dubai’s position as a global capital for the green economy. These projects support Dubai’s Clean Energy Strategy 2050 and Dubai’s Net Zero Carbon Emissions Strategy 2050 to provide 100% of energy production capacity from clean energy sources by 2050. Since 2014, DEWA has pioneered the IPP project management and implementation model. DEWA has developed a pioneering public-private partnership model to attract energy and water investments in Dubai, as well as transfer modern knowledge and technologies to diversify energy sources in line with international best practices. The Mohammed bin Rashid Al Maktoum Solar Park projects, the world’s largest single-site solar park implemented by DEWA based on the IPP model, are of great interest to international developers and reaffirm investor confidence in the large projects supported by the Government. from Dubai. “DEWA has attracted huge investments to the UAE from the private sector and foreign banks, generating increased cash flow for the economy of Dubai and the UAE.”

saying HE Saeed Mohammed Al Tayer, MD and CEO of DEWA.

“There is an urgent need to make rapid, radical and comprehensive changes to worldwide energy distribution and capital flow mechanisms. It is also important to rethink the transport sector and reduce waste, as well as strengthen collaboration between societies and individuals to build a sustainable future and find sustainable solutions to the challenges that concern the world. DEWA, ​​the World Green Economy Organization (WGEO) and the Dubai Supreme Energy Council are organizing the World Green Economy Summit (WGES). WGES is a strategic platform to support international collaboration in the fight against global challenges and promote sustainable development, as well as investments in the green economy and the adoption of effective policies, plans and initiatives in this regard.

aggregate Al-Tayer.

Al-Tayer highlighted that the capacity of DEWA’s current projects with the private sector using the IPP model exceeds 4,000 megawatts (MW), with investments amounting to more than AED 40 billion. He noted that through this model, DEWA was able to save additional investment of approximately AED 26 billion, allowing DEWA to invest in other infrastructure projects. Through this model, DEWA has achieved world-class results and developed a new benchmark for solar energy prices per kilowatt hour, thereby making Dubai a global benchmark for solar energy prices. .

The financing pillar within the Dubai Clean Energy Strategy 2050 focuses on finding financing solutions for investments in research and development related to clean energy and its applications. This pillar includes the Dubai Green Fund (DGF). DGF is a member of the Global Impact Investing Network, a leading nonprofit organization dedicated to increasing the scale and effectiveness of impact investing. Impact investing is a relatively new term used to describe global investment funds and companies that invest across many asset classes, sectors and regions, and focus on improving society or the environment while generating financial returns. This method has moved exponentially towards investing in companies that create a positive social or climate impact in the world. Most of these mutual funds market themselves as private equity firms (open only to institutional or accredited investors) or corporations and are willing to deal with less liquidity and returns in exchange for making a bigger difference.

DEWA’The main investment projects using the IPP model include:

The Mohammed bin Rashid Al Maktoum Solar Park is the largest single-site solar park in the world, using the IPP model, and will have a production capacity of 5,000 megawatts (MW) by 2030, using photovoltaic panels and concentrated solar power (CSP). . , with total investments of AED 50 billion. When completed, the solar park will reduce more than 6.5 million tonnes of carbon emissions per year. Solar energy projects commissioned within the park currently total 2,627MW.

The Hassyan Power Complex, which runs on natural gas. Its current production capacity has reached 1,800MW, using the IPP model. Another 600MW will be added in 2023, bringing the Complex’s capacity to 2,400MW. The Hassyan Desalination Plant project is the largest of its kind in the world for water production based on Seawater Reverse Osmosis (SWRO) technology using solar energy. It is DEWA’s first Independent Water Producer (IWP) model project. The Hassyan Independent Water Producer (IWP) Phase 1 180 million imperial gallons per day (MIGD) seawater reverse osmosis project has an investment of AED 3,357 million ($914 million). DEWA has achieved a world record by receiving the lowest offer of 0.36536 USD/m³ of desalinated water.

For energy efficiency projects, DEWA It focuses on improving the efficiency of energy use in buildings. In line with the vision and directives of the wise leadership to consolidate a green economy in the UAE, DEWA is interested in strengthening cooperation with public and private organizations that share its vision of improving environmental sustainability and achieving net zero emissions. DEWA has created an energy services company (Etihad Esco) to improve energy efficiency in Dubai. The company has modernized almost 8,000 existing buildings in Dubai.

He 9th World Green Economy Summitt (WGES) will be held on 28-29 November 2023. It will focus on the UAE’s priority areas during COP28. This includes accelerating a fair, orderly and equitable energy transition and climate finance. WGES will focus on the following thematic pillars: green policy, green finance, green technology and innovation, green energy and green partnerships.

WGES will bring together intellectuals, government institutions and large companies, as well as sustainability finance leaders from around the world. It is about exchanging best practices and theoretically and practically exploring the green and fair economy. WGES will engage all members of society and empower young people to play an influential role in creating a sustainable economy.

News source: Dubai Press Office