Dewa planning Dh60bn of projects over five years to meet Dubai’s power and water needs
Dubai Electricity and Water Authority (Dewa) is planning Dh60 billion worth of projects over the next five years to meet the emirate’s power and water needs.
The projects are needed to cope with the 6.4 per cent annual growth in power demand and 6.8 per cent annual growth in water demand, according to the Dewa chief executive.
They include the first and second phase of the Hassyan clean coal power project, which would have a total capacity of 2,400 megawatts, Saeed Al Tayer said yesterday.
Dewa will announce the winner of the first phase today.
The planned projects also include the third 800MW phase of the Mohammed Bin Rashid Al Maktoum solar photovoltaic (PV) park, which will have 3,000MW when it is completed by 2030. Dewa might change the way it tenders its solar projects because of the drop in prices, Mr Al Tayer said.
“Presently we have to tender about 800MW [for the solar park], but we might tender it on a yearly basis rather than at once to benefit from the prices,” said Mr Al Tayer.
“Renewable energy prices are going to come down.”
Dewa doubled the size of the second phase of the solar park to 200MW, which was awarded to the Saudi renewables major Acwa Power in January, because of the firm’s low prices, which were the lowest in the world at the time.
Dewa has also revised its strategy to increase the contribution of solar energy from 1 per cent to 7 per cent by 2020, and from 5 per cent to 15 per cent by 2030.
The authority has no immediate plans to issue bonds to finance projects because most of them are independent, where a big percentage of the financing comes from the private sector.
Follow The National’s Business section on Twitter