Company Insights Dubai Electricity and Water Authority (Dewa) Energy Dubai Electricity and Water Authority (Dewa) News 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 Sustainability DFM to launch pilot for trading carbon credits Dubai Financial Market (DFM), the operator of the Dubai stock exchange, will launch a pilot programme for trading carbon credits during Cop28. The pilot programme for institutional investors starts from December 4 to 8, 2023, with the offsetting period ending on January 10, 2024, the UAE state-run Wam news agency reported. The inaugural pilot will see […] November 24, 2023 Renewable Energy Gulf’s first hydroelectric plant to be ready in Dubai in 2025 The Gulf region’s first hydroelectric plant in Hatta is 80 percent complete and forecast to be completed by early 2025, the emirate’s utility provider said on Thursday. Dubai Electricity and Water Authority (Dewa) in December said that the AED1.42 billion ($387 million) plant – the first of its kind in the GCC – was planned […] November 23, 2023 Posts navigation Previous 1 2 3 … 7 Next
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
Sustainability DFM to launch pilot for trading carbon credits Dubai Financial Market (DFM), the operator of the Dubai stock exchange, will launch a pilot programme for trading carbon credits during Cop28. The pilot programme for institutional investors starts from December 4 to 8, 2023, with the offsetting period ending on January 10, 2024, the UAE state-run Wam news agency reported. The inaugural pilot will see […] November 24, 2023
Renewable Energy Gulf’s first hydroelectric plant to be ready in Dubai in 2025 The Gulf region’s first hydroelectric plant in Hatta is 80 percent complete and forecast to be completed by early 2025, the emirate’s utility provider said on Thursday. Dubai Electricity and Water Authority (Dewa) in December said that the AED1.42 billion ($387 million) plant – the first of its kind in the GCC – was planned […] November 23, 2023
