Dubai - Mubasher: Dubai Electricity and Water Authority (DEWA) has approved a total budget of AED 26.417 billion for 2018, compared to AED 24.358 billion in 2017.

The annual budget incorporates investments in conventional and non-conventional energy sources, advanced technologies and innovative projects.

DEWA aims at achieving the Dubai Clean Energy Strategy 2050 to provide 75% of Dubai’s total power output from clean energy by 2050.

The new project will see AED 10.076 billion allocated to capital projects and capital purchases, compared to AED 8.692 billion in 2017, with AED 2.684 billion for electricity and water generation, AED 5.013 billion for power transmission, AED 1.745 billion for power distribution and AED 519 million for water transmission and distribution projects, according to DEWA’s CEO Saeed Al Tayer.

DEWA has also announced the preferred bidder for its 700 MW concentrated solar power Independent Power Producer (IPP) model project costing AED 14.2 billion.