UAE - Mubasher: The Dubai Electricity and Water Authority (DEWA) has attracted investments of about AED 40 billion, benefitting from the Independent Power and Water Producer (IPWP) model.

The Managing Director and CEO of DEWA, Saeed Mohammed Al Tayer, has made this announcement during the Dubai International Public Private Partnership Conference (DIPPP), organised by the Department of Finance in Dubai, according to a press release on Sunday.

The Independent Power and Water Producer model is developed by DEWA for public-private partnerships to be used in a number of power projects.

Al Tayer said: "In line with the UAE’s commitment to promote green financing, and as part of the third pillar of the Dubai Clean Energy Strategy 2050, the Dubai Green Fund was launched to provide innovative financing solutions to green projects."

The Managing Director and CEO of DEWA further remarked: "After DEWA’s success in the independent power producer projects in the Mohammed bin Rashid Al Maktoum Solar Park, we launched a 120 million gallons per day seawater desalination project using reverse osmosis to desalinate sea water using clean energy based on the Independent Water Producer model (IWP)."