Dubai Electricity and Water Authority (DEWA) has attracted AED 43.6 billion in investments over the past decade through its Independent Power and Water Producer (IPWP) model, according to a statement by the Dubai Media Office (DMO).
The IPWP projects are part of Dubai’s efforts to become a global hub for the green economy, in line with the vision of Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
DEWA reports that the model has helped achieve the lowest Levelised Cost Of Energy (LCOE) in solar energy projects worldwide, positioning Dubai as a benchmark for solar energy prices.
DEWA’s independent producer projects support Dubai Economic Agenda D33
“The regulatory and legislative frameworks in Dubai, which allow the private sector to participate in energy generation projects, encourage international investors and developers to participate in the Mohammed bin Rashid Al Maktoum Solar Park’s projects, which DEWA is implementing using the IPP model. Our IPWP projects support the Dubai Economic Agenda D33, which aims to double the size of Dubai’s economy over 10 years and consolidate its position among the top three global cities. They also align with the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy 2050 to provide 100 percent of the energy production capacity from clean energy sources by 2050,” Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA) said.
Key projects under this model include the Mohammed bin Rashid Al Maktoum Solar Park, with a planned capacity of over 5,000MW by 2030 and a total investment of AED50 billion.
DEWA is currently implementing the 1,800MW 6th phase, costing approximately AED5.5 billion.
Other projects include the 2,400MW Hassyan Power Complex and a 180 million imperial gallons per day seawater reverse osmosis desalination project in Hassyan, valued at AED3.4 billion.
DEWA’s initiatives align with Dubai’s position as a leading hub for foreign direct investment. In 2023, Dubai attracted over AED39.2 billion in FDI capital, creating around 45,000 job opportunities.
The IPWP model, adopted by DEWA since 2014, encourages partnership between government and private sectors, contributing to Dubai’s clean energy and net zero emissions strategies for 2050.
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