Company Insights Dewa (Dubai Electricity and Water Authority) Energy Dewa (Dubai Electricity and Water Authority) Overview Dewa – or Dubai Electricity and Water Authority – was formed in 1992 by the merger of the Dubai Electricity Company and the Dubai Water Department, which were both established in 1959 and had operated independently until that date. Dewa generates, transmits and distributes electricity for residential, commercial, industrial and governmental customers primarily in Dubai. It is involved in water desalination and provision, and district cooling through its Empower subsidiary. In April 2022 Dewa offered 18 percent of its shares for sale on the Dubai Financial Market, raising AED22.3 billion ($6.1 billion). This was the Gulf’s second-largest IPO at the time, behind only Saudi Aramco’s $29.4 billion offer and giving it a market cap of AED124 billion. More than 65,000 investors took part and around one third were international. One of Dewa’s biggest projects is the $4.3 billion Mohammed bin Rashid Al Maktoum Solar Park. The largest single-site solar park in the world, it has a planned capacity of 5 gigawatts by 2030. It forms part of Dewa’s plans to achieve net-zero status by 2050. To encourage the uptake of electric vehicles, Dewa has installed more than 400 EV charging stations across Dubai since 2015. Dewa (Dubai Electricity and Water Authority) News Renewable Energy Parkin to roll out more green EV chargers across Dubai Dubai is expanding its network of electric vehicle (EV) chargers as part of the emirate’s push to accelerate smart and green mobility. Parkin, the state-backed parking management company, has signed an agreement with the Dubai Electricity and Water Authority (Dewa) to increase the number of EV green charger stations at prime locations across the emirate. Parkin […] May 24, 2024 Energy Dewa profit falls despite surge in demand The state-owned utility provider Dubai Electricity and Water Authority (Dewa) reported a 13 percent year on year decline in net profit to AED651 million ($177.2 million). The lower earnings were mostly due to higher administrative expenses, finance costs and a drop in other income. Revenue for the period reached nearly AED6 billion, an annual rise of 7 […] May 10, 2024 Posts navigation
Renewable Energy Parkin to roll out more green EV chargers across Dubai Dubai is expanding its network of electric vehicle (EV) chargers as part of the emirate’s push to accelerate smart and green mobility. Parkin, the state-backed parking management company, has signed an agreement with the Dubai Electricity and Water Authority (Dewa) to increase the number of EV green charger stations at prime locations across the emirate. Parkin […] May 24, 2024
Energy Dewa profit falls despite surge in demand The state-owned utility provider Dubai Electricity and Water Authority (Dewa) reported a 13 percent year on year decline in net profit to AED651 million ($177.2 million). The lower earnings were mostly due to higher administrative expenses, finance costs and a drop in other income. Revenue for the period reached nearly AED6 billion, an annual rise of 7 […] May 10, 2024
