DEWA approves AED 26.417 billion budget for 2018 and IPP Project for concentrated Solar Power worth AED 14.2 Billion
Dubai Electricity & Water Authority (DEWA) has approved a total budget of AED 26.417 billion for 2018, compared to AED 24.358 billion in 2017. The 2018 budget incorporates investments in conventional and non-conventional energy sources, advanced technologies and innovative projects to realise the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, 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. Accordingly, DEWA has announced the preferred bidder for its 700 MW concentrated solar power Independent Power Producer (IPP) model project costing AED 14.2 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, 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 & 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 His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai,” said HE Saeed Mohammed Al Tayer, MD&CEO of DEWA. “AED 10.076 billion of the 2018 budget is allocated to capital projects and capital purchases, compared to AED 8.692 billion in 2017. The 2018 budget includes AED 2.684 billion for Electricity & Water Generation, AED 5.013 billion for power transmission, AED 1.745 billion for power distribution and AED 0.519 billion for water transmission and distribution projects” explained Al Tayer. “Transmission projects include building 3 new 400kV substations at a cost of AED 1,080 million, 116 KM of 400KV Overhead Lines at AED 812 million, 10 new 132KV substations at a cost of AED 855 million. AED 1.294 billion has been allocated for laying 235 km of 132kV cables and for installing substation control systems. To increase DEWA’s water storage capacity AED 165 million has been allocated for constructing a 30 MIG reservoir in Hatta and upgrading pumping stations at Jebel Ali – Habab and Khawaneej. DEWA’s 2018 operating budget is AED 15.420 billion compared to AED 14.869 billion in 2017. The administration capital budget is AED 921 million,” added Al Tayer. “DEWA’s 2018 Budget combines ambitious initiatives and innovative projects that expand capacity in generation and transmission, strengthen the reliability and security of the network and will contribute to make Dubai the smartest city in the world, committed to energy efficiency, green growth and becoming a model of resources sustainability” concluded Al Tayer.