Dubai's utilities provider DEWA will invest AED 40 billion in electricity and water projects in the emirate over the next five years.
The amount will be spent on expanding renewable and clean energy initiatives as well as boosting transmission and distribution networks.
Other ongoing projects in infrastructure and smart systems are also set to benefit.
DEWA said it plans to invest about AED 16 billion to strengthen and expand electricity and water transmission and distribution networks, and nearly AED 12 billion to complete the Independent Power Producer (IPP) projects in the Mohammed bin Rashid Al Maktoum Solar Park, the Hassyan Power Complex and the Independent Water Producer (IWP) projects at Hassyan.
Meanwhile, the Emirates Central Cooling Systems Corporation (Empower), which is 70 per cent owned by DEWA, plans to spend around AED 3 billion - mainly to expand district cooling capacity and network to meet growing demand.
. @DEWAOfficial plans to invest AED 40 billion in electricity and water projects in #Dubai over the next five years. pic.twitter.com/PrZf8M6nST
— Dubai Media Office (@DXBMediaOffice) July 20, 2022
UAE's GDP grows by 4% in 2024 to AED 1.77 trillion
Oil jumps nearly 9% after Israel's strikes on Iran
Abu Dhabi hotels generate AED 611 million in March revenue
Abu Dhabi plans next big business hub
World Bank cuts global growth forecast as trade tensions heighten uncertainty
