The Managing Director and CEO of Dubai Electricity and Water Authority, Saeed Mohammed Al Tayer, announced that the authority plans to invest 40 billion dirhams in capital expenditure over the next five years, including the expansion of renewable and clean energy projects.
He added that the authority plans to invest about 16 billion dirhams in strengthening and expanding electricity and water transmission and distribution networks and about 12 billion dirhams to complete the “independent producer” projects for energy in the “Mohammed bin Rashid Al Maktoum Solar Energy Complex ” ” and “Hassian Energy Production Complex”, and product projects. The independent water authority of Hassyan, in addition to completing other existing projects of the authority in infrastructure and smart systems.
He revealed that the Emirates Corporation for Central Cooling Systems “Empower”, of which the authority owns 70%, plans to spend about three billion dirhams to expand its total capacity and its network of transmission and distribution lines.
Al Tayer said: “We are working within the vision of His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the UAE, and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to deliver a advanced infrastructure that meets the requirements of sustainable development.”
He added: “In line with the directives of the management that launched (the fifty projects), to strengthen cooperation and integration between the public and private sectors and to provide promising investment opportunities, we have strategic partnerships with many local and international companies to implement renewable energy and water desalination projects according to the independent product model.” Through this model, the authority achieved world records for the lowest prices for five consecutive times until Dubai became a benchmark for solar energy prices worldwide.
Al Tayer continued: “The Authority continues its investments and efforts to increase clean energy generation capacity through well-thought-out plans based on the latest tools for future foresight, to meet the increasing demand for electricity and water and to deliver our services according to the highest levels of quality, availability, reliability and efficiency, and to keep pace with the rapid growth that Dubai is witnessing in various regions. areas.”
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