Dubai Electricity and Water Authority Dedicates $40 Billion to Sustainable Energy Efforts

Initiatives and Collaborations

Dubai Electricity and Water Authority (DEWA) is furthering its endeavors in sustainable and clean energy within the UAE. With collaborations in the private sector, DEWA is participating in projects focusing on clean and renewable energy. These initiatives coincide with the UAE’s national goals and back regional sustainability.

Support from UAE Leaders

DEWA’s actions resonate with the objectives set by HH Sheikh Mohamed bin Zayed Al Nahyan and HH Sheikh Mohammed bin Rashid Al Maktoum. These figures underline the need for worldwide climate goals and rising climate funding, especially leading up to COP28, taking place in Expo City Dubai from November 30 to December 12, 2023.

IPP Projects and Strategies

Projects by Independent Power Producers (IPP) are essential in evolving UAE’s climate financing strategies and establishing Dubai as a central location for the green economy. Such ventures align with the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy 2050, both targeting 100% energy production from clean sources by 2050. DEWA’s participation in projects like the Mohammed bin Rashid Al Maktoum Solar Park has gained global attention and investment trust.

DEWA’s Investments and Contributions

HE Saeed Mohammed Al Tayer, MD & CEO of DEWA, mentioned that the current projects in collaboration with the private sector, using the IPP framework, surpass 4,000 megawatts. The total investment is over AED 40 billion. This approach has also resulted in cost benefits close to AED 26 billion, permitting further investment in essential infrastructure projects. With its contributions, DEWA is setting new solar energy price standards, making Dubai a frontrunner in this domain.

Towards a Sustainable Future

Al Tayer spoke on the necessity to adjust energy distribution and funding methods. He underscored the importance of revamping the transport sector, minimizing waste, and enhancing collaborations for a sustainable future. Alongside the World Green Economy Organisation (WGEO) and the Dubai Supreme Council of Energy, DEWA is preparing for the 9th World Green Economy Summit (WGES). The summit is a venue for global cooperation to confront worldwide issues, boost sustainable growth, and foster investments in the green economy. WGES focuses on green policy, finance, technology, energy, and collaborations.

Impact and Upcoming Summits

The projects by DEWA have significant implications. The Mohammed bin Rashid Al Maktoum Solar Park plans to achieve a 5,000-megawatt capacity by 2030, cutting carbon emissions by more than 6.5 million tonnes yearly. The Hassyan Power Complex, which uses natural gas, currently has a 1,800MW capacity, with an expansion of 600MW anticipated in 2023. Additionally, DEWA’s initiatives to improve energy efficiency in structures support environmental sustainability and the pursuit of zero emissions.

The 9th World Green Economy Summit is scheduled for November 28-29, 2023. It will spotlight the UAE’s focal areas during COP28, encompassing a fair energy shift and climate finance. The summit’s goal is to involve community members and encourage the youth to have a pivotal role in shaping a sustainable future, positioning the event as a significant gathering for global sustainability and green finance leaders.