DEWA, Japan Bank to Work on Increasing Demand of Energy in Emirates

Saeed Mohammed Al Tayer, Managing Director, Dubai Electricity and Water Authority (DEWA), received a high-level delegation from Japan Bank for International Cooperation, including Nobumetsu Hayashi, Deputy Governor and Naoki Tamaki, the Bank’s Chief Representative in the Middle East. Programs, projects and investment opportunities available to the Authority in the fields of energy and water.

The meeting was attended by Waleed Salman, Executive Vice President – Business Development and Excellence.

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Saeed Mohammed Al Tayer reviewed the most important projects, initiatives and programs carried out by the Authority to achieve the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. Creating a future model for service institutions in the production, transmission and distribution of electricity and water.

Investments

Al Tayer tackled the achievements of the Authority, explaining that it has investments of over AED 86 billion over the next five years to meet the growing demand for electricity and water in the emirate. The UAE, represented by the Dubai Electricity and Water Authority (DEWA), has been the world’s number one power holder for the second year in a row, according to the World Bank’s Doing Business 2019 report.

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He said that the Authority is working on the construction of the Mohammed Bin Rashid Al Maktoum Solar Complex with a capacity of 5000 megawatts by 2030 with a total investment of 50 billion dirhams to achieve the objectives of the Dubai Clean Energy Strategy to provide 75% Clean energy by 2050 and transform Dubai into a global center for clean energy and green economy. “The Authority has become a leader in project management based on the independent energy product model. This model has achieved world-class results and set a new global standard by achieving world record energy prices a Low power per kilowatt / hour, which led to the stability of energy prices in the long term to consumers in Dubai, as the Authority giant investments attracted to the state from the private sector and foreign banks, which led to increased cash flows to the economy of Dubai and the UAE.

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