As Dubai Electricity and Water Authority pushes ahead with new projects and infrastructure upgrades, the country has plans to spend $23bn over the next five years on it electricity sector.
At a recent virtual event, Saeed Mohammed al-Tayer, Chief Executive Officer of Dewa, said the money would be invested on new generation projects, including renewable energy schemes, and transmission and distribution networks.
Al-Tayer said half of the planned investments would be through public-private partnerships, where the private sector develops the infrastructure and is recompensed through long-term power purchase agreements or water purchase agreements.
According to him, a significant amount of the planned investments will be in the renewable energy sector, with Dubai planning for clean energy resources to meet 75 per cent of the emirate’s energy demand by 2050.
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