Saturday , June 23 2018

DEWA okays $7.2bn budget for 2018

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DUBAI / WAM

Dubai Electricity and Water Authority (DEWA) approved a total budget of AED26.417 billion ($7.2 billion) for 2018, compared to AED24.358 billion in 2017. The 2018 budget incorporates investments in conventional and non-conventional energy sources, adva- nced technologies and innovative projects to realise the vision of Vice President and Prime Minister of the UAE and Ruler of Dubai, HH Sheikh Mohammed bin Rashid Al Maktoum, to make Dubai a smart, sustainable and innovative city, and consolidate its position as a global model for green economy.
DEWA recognises the vital role of renewable and clean energy sources in realising the objectives of the Dubai Clean Energy Strategy 2050 to provide 75% of Dubai’s total power output from clean energy by 2050. DEWA has also announced the preferred bidder for its 700 MW concentrated solar power IPP model project costing AED14.2 billion.
DEWA’s vision is aligned with strategies at both federal and local levels as stipulated in UAE Vision 2021, National Agenda, UAE Centennial 2071, Dubai Plan 2021, and Smart Dubai goals. Accordingly, budget allocations have been made in 2018 for investment in strategic innovation, research and development (R&D), renewable energy, green technology, smart grid,
energy efficiency, demand side management and other projects.
“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 and 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 HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai,”
said Saeed Mohammed Al Tayer, MD and CEO of DEWA.
AED10.076 billion of the 2018 budget is allocated to capital projects and capital purchases, compared to AED8.692 billion in 2017. The 2018 budget includes AED 2.684 billion for electricity and water generation, AED5.013 billion for power transmission, AED1.745 billion for power distribution and AED0.519 billion for water transmission and distribution projects, Al Tayer explained.
“To increase DEWA’s water storage capacity AED165 million has been allocated for constructing a 30 MIG reservoir in Hatta and upgrading pumping stati-
ons at Jebel Ali — Habab and Khawaneej. DEWA’s 2018 operating budget is AED15.420 billion compared to AED14.869 billion in 2017,” he added.

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