The Dubai Electricity and Water Authority (DEWA)’s projects in collaboration with the private sector under the Independent Power Producer (IPP) model exceeded 4,000 megawatts (MW), with investments amounting to over AED40 billion ($10.9 billion), a top executive of the organisation said.
The IPP model has also helped the organisation to save an additional investment of approximately AED26 billion, Saeed Mohammed Al Tayer, managing director and chief executive officer of DEWA said, WAM reported.
The savings will allow DEWA to invest in other infrastructure projects, Al Tayer added.
The IPP model encourages partnership between the public and private sectors, attracting significant investments to the UAE from foreign banks as well.
Al Tayer said through the IPP model, DEWA could also develop a new benchmark for solar energy prices for every kilowatt hour, thus making Dubai a global benchmark for solar energy prices.
Al Tayer said the model also encouraged international investors and developers to participate in the projects at the Mohammed bin Rashid Al Maktoum Solar Park.
Earlier, DEWA followed the EPC model – engineering, procurement and construction – for its power generation projects.
Since 2014, DEWA has introduced the IPP project management and implementation model.
Its key projects under the IPP model include Mohammed bin Rashid Al Maktoum Solar Park, Hassyan Power Complex and Hassyan Desalination Plant.
The Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy 2050 envisage providing 100 percent of the emirate’s power capacity from clean energy sources by 2050.
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