Dubai – Mubasher: Dubai Electricity and Water Authority (DEWA) on Wednesday announced that it has signed a joint venture (JV) with the Japan Bank for International Cooperation (JBIC) on the sidelines of a visit of a high-profile delegation from the bank.
The deal was inked by Saeed Mohammed Al Tayer, CEO of DEWA, and the Deputy Governor of JBIC, Nobumitsu Hayashi, according to DEWA’s statement.
During the meeting, Al Tayer discussed DEWA’s achievements and its plans to invest up to AED 86 billion over the coming five years to meet the burgeoning demand for electricity and water in the emirate.
“DEWA’s extensive efforts resulted in the UAE, represented by DEWA, maintaining its global first ranking for the second consecutive year, with scores of 100% in all Getting Electricity indicators in the World Bank’s Doing Business 2019 report,” the statement added.
DEWA is building the Mohammed bin Rashid Al Maktoum Solar Park that will have a production capacity of 5,000 megawatts (MW) by 2030, with a total cost of AED 50 billion, in a bid to achieve the objectives of the Dubai Clean Energy Strategy 2050.
The strategy aims to provide 75% of Dubai's energy from clean energy by 2050 and transform Dubai into a global centre for clean energy and green economy.
“DEWA achieved competitive results in global benchmarking, surpassing the private sector and major European and American utilities in efficiency and reliability,” Al Tayer added.
He pointed out that the entity raised the efficiency of its energy production by using the latest technologies and adopting technological innovations, surpassing European and American utilities, by reducing losses from electricity transmission and distribution networks to 3.3% compared to 6–7% in the US and Europe.
Moreover, it achieved the lowest customer minutes lost per year (CML) in the world of 2.39 CML compared to 15 minutes in Europe.
