Dubai – Mubasher: Dubai Electricity and Water Authority (DEWA) developed the Independent Power and Water Producer (IPWP) model and attracted investments worth AED 43.60 billion over 10 years.

Saeed Mohammed Al Tayer, Managing Director and CEO of DEWA, highlighted that the model has been designed to align with the requirements of Dubai and its legislation to become a global green hub, according to WAM.

Through the IPWP model, DEWA has achieved the lowest Levelised Cost Of Energy (LCOE) in the world in solar energy projects, making Dubai a global benchmark for solar energy prices.

Al Tayer commented: “Our IPWP projects support the Dubai Economic Agenda D33, which aims to double the size of Dubai’s economy over 10 years and consolidate its position among the top three global cities.”

“They also align with the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy 2050 to provide 100% of the energy production capacity from clean energy sources by 2050,” he added.

Meanwhile, Dubai attracted more than AED 39.20 billion in total foreign direct investment (FDI) capital during 2023, creating around 45,000 job opportunities.

DEWA has adopted the IPWP model since 2014, replacing the engineering, procurement and construction (EPC) model.

The Mohammed bin Rashid Al Maktoum Solar Park is one of DEWA’s key IPP projects with a planned production capacity exceeding  5,000 megawatts (MW) by 2030 and a total investment of AED 50 billion.

DEWA also implements a 180 million imperial gallons per day (MIGD) seawater reverse osmosis (RO) desalination project in Hassyan using the Independent Water Producer model. It is the world’s largest project using RO technology based on the Independent Water Producer (IWP) model, with an investment of AED 3.40 billion.

The DFM-listed company recently announced a new water reservoir in Enkhali for AED 287.80 million.