Alarabiya News
Summary
Dubai’s utilities provider, DEWA, announced plans to spend $10.8 billion (AED 40 billion) in capital expenditure over a five-year period, the official Emirates News Agency (WAM) reported on Wednesday.
The investment, which was announced by the CEO of Dubai’s Electricity and Water Authority, will reportedly include an “expansion” of renewable and clean energy project.
In a breakdown, Saeed Mohammed al-Tayer reportedly said that DEWA will invest about $4.3 billion (AED16 billion) to fortify and increase electricity and water transmission and distribution networks, nearly $3.2 billion (AED12 billion) to complete 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.
District cooling provider, Empower, which is 70 percent owned by DEWA, plans to spend around $816 million (AED3 billion) mainly to expand capacity and network to meet the rising demand, according to the WAM report.
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