DEWA approves $7.1bn budget for 2018
Dubai Electricity & Water Authority (DEWA) has approved a total budget of $7.1bn (AED26.4bn) for 2018, compared to $6.6bn (AED24.3bn) last year
Dubai Electricity & Water Authority (DEWA) has approved a total budget of $7.1bn (AED26.4bn) for 2018, compared to $6.6bn (AED24.3bn) last year.
The 2018 budget incorporates investments in conventional and non-conventional energy sources, advanced technologies and projects.
Budget allocations have been made for investment in strategic innovation, R&D, renewable energy, green technology, smart grid, energy efficiency, demand side management, and other projects.
HE Saeed Mohammed Al Tayer, MD&CEO of DEWA, said: “We have a holistic approach for the energy sector and we translated that into workable strategies.
"The budget supports the vision of our leadership to provide citizens and residents with excellent services in a smart and well-connected city, which is recognised as a world model for developing clean energy, inspiring innovation & creativity and promoting sustainability.
“Accordingly, our investment in disruptive technologies and the launch of the world’s first sharia compliant Green Fund are testimony to DEWA’s commitment to the aspirations of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai.”
The budget is in line with HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai vision to make Dubai a smart, sustainable and innovative city, and consolidate its position as a global model for green economy.
The authority’s 2018 operating budget is $4.1bn (AED15.4bn) compared to $4bn (AED14.8bn) in 2017, with the administration capital budget totalling $250m (AED921m), added Al Tayer.
DEWA has also announced that it has chosen a preferred bidder for its $3.8bn (AED14.2bn) 700 MW concentrated solar power Independent Power Producer (IPP) model project.