Company Insights Dubai Electricity and Water Authority (Dewa) Energy Dubai Electricity and Water Authority (Dewa) 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. Dubai Electricity and Water Authority (Dewa) News Construction Dewa rolls out $1.9bn smart grid to boost efficiency Dubai Electricity and Water Authority (Dewa) is implementing a smart grid that will cost AED7 billion ($1.91 billion) up to 2035, focusing on efficient and reliable operations. It says the smart grid will ensure integrated services, offering advanced features such as automated decision-making and interoperability across the electricity and water network. “The smart grid will […] December 24, 2024 Transport UAE motorists fuelling demand for second-hand EVs Demand for second-hand electric vehicles in the UAE may be in its infancy but it is accelerating fast as more people turn to the environmentally friendly option. Electric vehicles (EVs) now account for around 1 percent of the UAE’s used car market and a little over 1 percent of all cars in the country, according […] March 26, 2024 Opinion Transport If EVs can make it here, they can make it anywhere The battery powered car is on the up, even in the oil-soaked Gulf March 25, 2024 Renewable Energy Dewa and Masdar secure funding for sixth phase of solar park Dubai Electricity and Water Authority (Dewa) and Abu Dhabi’s renewable energy major Masdar have achieved the financial closing of the 1,800-megawatt (MW) sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park. The funding has been jointly provided by Abu Dhabi Commercial Bank, Commercial Bank of Dubai, First Abu Dhabi Bank, HSBC, Standard Chartered […] February 22, 2024 Construction Empower’s profit falls 5% despite record revenue Empower, Dubai’s, and the world’s, largest district cooling company, reported a net profit of AED960 million ($261.37 million) for 2023, down five percent from AED1 billion in 2022. Revenue was at a record high of AED3 billion, rising 8.7 percent year on year, the company said in a statement to the Dubai bourse on Monday. […] February 13, 2024 Sustainability Dubai records 59% surge in EV charging sessions in 2023 Dubai recorded a 59 percent year-on-year increase in electric vehicle (EV) charging sessions last year, as green mobility rapidly accelerates in the emirate. The EV green charger initiative recorded 1,145,427 charging sessions in 2023, Dubai Electricity and Water Authority (Dewa) said in a statement. Through this initiative, the Dubai utility provider provided 23419.821 megawatt hours (MWh) of […] February 5, 2024 Construction Dewa’s $300m power station set for completion in 2024 Dubai Electricity and Water Authority (Dewa) has commenced operational testing of the 829 megawatts (MW) 4th phase of its power plant in Al Aweer (H-Station). The project is due to be completed in the second quarter of 2024. Tests include the initial operation of turbines and power generators and connecting to the power grid, the […] January 17, 2024 Finance Market cap of top 16 UAE-listed companies hit $591bln The aggregate market capitalisation of the top 16 national companies listed on UAE exchanges reached AED2.71 trillion ($590.83) as of January 2024. This figure is anticipated to grow significantly to AED 6 trillion in the coming years, the UAE state-run Wam news agency reported, citing official market data. The top 16 listed companies accounted for […] January 7, 2024 Finance Dubai to set up new investment fund Dubai will set up a new investment fund to bolster the emirate’s financial stability and manage its stakes in some public service entities. Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum issued a law to set up the Dubai Investment Fund, which will be chaired by UAE finance minister and deputy ruler of Dubai Sheikh […] December 12, 2023 Renewable Energy Dubai opens world’s largest concentrated solar power project UAE Vice President and Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum has inaugurated the world’s largest concentrated solar power (CSP) project as the Gulf state accelerates towards becoming net zero by 2050. The project is part of the AED15.78 billion ($4.30 billion) fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park in […] December 7, 2023 Posts navigation 1 2 … 6 Next
Construction Dewa rolls out $1.9bn smart grid to boost efficiency Dubai Electricity and Water Authority (Dewa) is implementing a smart grid that will cost AED7 billion ($1.91 billion) up to 2035, focusing on efficient and reliable operations. It says the smart grid will ensure integrated services, offering advanced features such as automated decision-making and interoperability across the electricity and water network. “The smart grid will […] December 24, 2024
Transport UAE motorists fuelling demand for second-hand EVs Demand for second-hand electric vehicles in the UAE may be in its infancy but it is accelerating fast as more people turn to the environmentally friendly option. Electric vehicles (EVs) now account for around 1 percent of the UAE’s used car market and a little over 1 percent of all cars in the country, according […] March 26, 2024
Opinion Transport If EVs can make it here, they can make it anywhere The battery powered car is on the up, even in the oil-soaked Gulf March 25, 2024
Renewable Energy Dewa and Masdar secure funding for sixth phase of solar park Dubai Electricity and Water Authority (Dewa) and Abu Dhabi’s renewable energy major Masdar have achieved the financial closing of the 1,800-megawatt (MW) sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park. The funding has been jointly provided by Abu Dhabi Commercial Bank, Commercial Bank of Dubai, First Abu Dhabi Bank, HSBC, Standard Chartered […] February 22, 2024
Construction Empower’s profit falls 5% despite record revenue Empower, Dubai’s, and the world’s, largest district cooling company, reported a net profit of AED960 million ($261.37 million) for 2023, down five percent from AED1 billion in 2022. Revenue was at a record high of AED3 billion, rising 8.7 percent year on year, the company said in a statement to the Dubai bourse on Monday. […] February 13, 2024
Sustainability Dubai records 59% surge in EV charging sessions in 2023 Dubai recorded a 59 percent year-on-year increase in electric vehicle (EV) charging sessions last year, as green mobility rapidly accelerates in the emirate. The EV green charger initiative recorded 1,145,427 charging sessions in 2023, Dubai Electricity and Water Authority (Dewa) said in a statement. Through this initiative, the Dubai utility provider provided 23419.821 megawatt hours (MWh) of […] February 5, 2024
Construction Dewa’s $300m power station set for completion in 2024 Dubai Electricity and Water Authority (Dewa) has commenced operational testing of the 829 megawatts (MW) 4th phase of its power plant in Al Aweer (H-Station). The project is due to be completed in the second quarter of 2024. Tests include the initial operation of turbines and power generators and connecting to the power grid, the […] January 17, 2024
Finance Market cap of top 16 UAE-listed companies hit $591bln The aggregate market capitalisation of the top 16 national companies listed on UAE exchanges reached AED2.71 trillion ($590.83) as of January 2024. This figure is anticipated to grow significantly to AED 6 trillion in the coming years, the UAE state-run Wam news agency reported, citing official market data. The top 16 listed companies accounted for […] January 7, 2024
Finance Dubai to set up new investment fund Dubai will set up a new investment fund to bolster the emirate’s financial stability and manage its stakes in some public service entities. Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum issued a law to set up the Dubai Investment Fund, which will be chaired by UAE finance minister and deputy ruler of Dubai Sheikh […] December 12, 2023
Renewable Energy Dubai opens world’s largest concentrated solar power project UAE Vice President and Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum has inaugurated the world’s largest concentrated solar power (CSP) project as the Gulf state accelerates towards becoming net zero by 2050. The project is part of the AED15.78 billion ($4.30 billion) fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park in […] December 7, 2023
