AED 40 billion boost for Dubai electricity, water projects

Wednesday, 20 July 2022 16:36

By ARN News Staff

Dubai's utilities provider DEWA will invest AED 40 billion in electricity and water projects in the emirate over the next five years.

The amount will be spent on expanding renewable and clean energy initiatives as well as boosting transmission and distribution networks.

Other ongoing projects in infrastructure and smart systems are also set to benefit.

DEWA said it plans to invest about AED 16 billion to strengthen and expand electricity and water transmission and distribution networks, and nearly AED 12 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.

Meanwhile, the Emirates Central Cooling Systems Corporation (Empower), which is 70 per cent owned by DEWA, plans to spend around AED 3 billion - mainly to expand district cooling capacity and network to meet growing demand.

. @DEWAOfficial plans to invest AED 40 billion in electricity and water projects in #Dubai over the next five years. pic.twitter.com/PrZf8M6nST
— Dubai Media Office (@DXBMediaOffice) July 20, 2022

More from Business News

Novo's next-gen obesity drug candidate trial disappoints

Novo Nordisk on Friday revealed disappointing results in a late-stage trial for its experimental next-generation obesity drug CagriSema, wiping as much as $125 billion off its market value.
Amazon workers to strike at US warehouses during busy holiday season

Thousands of Amazon.com workers in the US will walk off the job on Thursday, in the crucial final days of the holiday season, after union officials said the retailer failed to come to the bargaining table to negotiate contracts.
H.H Sheikh Mohammed issues new laws to enhance Dubai’s media sector

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, has introduced Law No. (29) of 2024, which grants the Dubai Media Council expanded powers to further develop and regulate the emirate’s media sector.
Honda, Nissan in talks to set up holding company

Japanese auto giants Honda and Nissan are in talks to set up a holding company, according to a person with knowledge of the matter, a move that would allow them to share more resources amid competition upending the global industry.