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DEWA to allocate AED 40bn in capital expenditure for electricity, water projects

DEWA to allocate AED 40bn in capital expenditure for electricity, water projects
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DEWA
DEWA
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Dubai - Mubasher: The Dubai Electricity and Water Authority (DEWA) seeks to invest AED 40 billion in capital expenditure for electricity and water projects, including the expansion of renewable and clean energy projects, in the upcoming five years.

The authority will allocate AED 16 billion for expanding electricity and water transmission and distribution networks, the Managing Director and CEO of DEWA, Saeed Mohammed Al Tayer, announced in a press release on Wednesday.

Meanwhile, about AED 12 billion will be spent on completing 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.

Al Tayer added: "We have strategic partnerships with various local and international companies to implement renewable energy and water desalination projects according to the IPP model."

The Managing Director and CEO of DEWA further remarked: "DEWA will continue to invest and enhance renewables’ generation capacity, through informed plans based on the latest tools for future foresight, in order to meet the increasing demand for electricity and water."