In line with the UAE’s national agenda and support sustainability in the region, Dubai Electricity and Water Authority (DEWA) has committed to move towards clean energy initiatives through strategic partnerships with the private sector and actively involved in pioneering projects in clean and renewable energy.
Saeed Mohammed Al Tayer, MD & CEO of DEWA, disclosed that DEWA’s current projects with the private sector under the IPP model exceed 4,000 megawatts, with investments totaling over AED 40 billion. This model has also generated significant cost savings, amounting to approximately AED 26 billion, enabling DEWA to invest in other critical infrastructure projects. “Through its efforts, DEWA has set new benchmarks for solar energy prices, positioning Dubai as a global leader in this regard,” he said.
DEWA’s involvement in IPP projects, particularly at the Mohammed bin Rashid Al Maktoum Solar Park, has garnered international interest and investor confidence. The Mohammed bin Rashid Al Maktoum Solar Park, using the IPP model, is set to have a production capacity of 5,000 megawatts by 2030, reducing carbon emissions by over 6.5 million tonnes annually.
The country has stressed upon the importance of global climate ambitions and increased climate financing, particularly in preparation for COP28, hosted by the UAE at Expo City Dubai from November 30 to December 12, 2023.
It may be noted that the Independent Power Producer (IPP) projects play a crucial role in enhancing the UAE’s climate financing methods and Dubai’s reputation as a global hub for a green economy.
The 9th World Green Economy Summit will be held on November 28-29, 2023, and will focus on the UAE’s priority areas during COP28. This includes accelerating a just and equitable energy transition and climate finance.