Tuesday, October 16, 2018 9:34 AM

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Dubai to invest $22 bn in utilities 5 years


Dubai Electricity and Water Authority (DEWA) will invest $22 billion (Dh81 billionn) in power and water projects over the next five years.

 

Saeed Mohammed Al Tayer, Managing Director and CEO of DEWA, said that of the $22 billion (Dh81bn), $10.6 billion (Dh39 bn) will go to the independent power producer (IPP) developer, while around $11.2 billion (Dh41bn) will be invested in transmission, distribution, and water infrastructure.

 

He was speaking to the press during the inauguration of the 200 MW first stage of the 800 MW Phase 3 of the Mohammed bin Rashid Al Maktoum Solar Park (MBR Solar Park). He said, DEWA will tender a 300MW concentrated solar power (CSP) project no later than the first quarter of 2019.

 

The MBR Solar Park is the world’s largest single-site solar project based on the IPP model. Upon completion in 2030, it will span 214 square kilometres and generate 5,000MW, with total investments worth up to $13.6 billion (Dh50 billion).

 

Dubai Government’s strategy aims to source 7 percent of the emirate’s energy needs from solar by 2020, the authority is expecting to exceed that target.

 

“We have a strategy to follow and, based on that, we are commissioning our plant on a yearly basis,” said Al Tayer. “The MBR Solar Park will be 4,000 MW PV technology and 1,000 MW CSP.”

Last month, DEWA announced that an engineering, procurement, and construction (EPC) contract had been awarded for the 700MW CSP fourth phase of the solar park, with Saudi Arabia's ACWA Power signing the deal with China's Shanghai Electric.

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