DEWA: Dh40 billion earmarked for capital expenditure, mostly for renewable energy projects in next 5 years

DEWA: Dh40 billion earmarked for capital expenditure, mostly for renewable energy projects in next 5 years

Dubai: Capital expenditure worth Dh40 billion ($10.89 billion) had been earmarked over the next five years, primarily to expand renewable and clean energy projects, a senior DEWA official has said. Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority, shared the utility’s renewables spending plan during a meeting with a team from the International Finance Corporation (IFC), who visited to learn about its projects and initiatives that enhance sustainable and comprehensive development. Dubai has a number of on-going mega projects in the , power and sectors. In January, DEWA reported that it has raised the capacity of project to 330 megawatts (MW), while the 900-MW Phase 5 with investment of Dh2billion was already in progress In June, DEWA announced the launch automatic smart grid restoration system which improves power management — one of the latest international technologies in power generation, transmission and distribution. In 2021, DEWA achieved a new world record in electricity Customer Minutes Lost (CML) per year, thus making it one of the best utility service providers worldwide. Dubai recorded 1.43 minutes per customer, compared to around 15 minutes by leading utility companies in the European Union. This highlights DEWA’s ability to restore power