Mohammed bin Rashid approves AED26.417 billion DEWA budget for 2018

Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum has approved Dubai Electricity & Water Authority’s (DEWA) total budget of AED26.417 billion for 2018, compared to AED24.358 billion in 2017.

As per the directives of His Highness Sheikh Mohammed, the 2018 budget incorporates investments in conventional and non-conventional energy sources, advanced technologies and innovative projects to make Dubai a smart, sustainable and innovative city, and consolidate its position as a global model for the green economy.

His Highness Sheikh Mohammed highlighted the importance of innovation in the energy sector as a key driver for development as well as inspiring youth to participate in building the future of the UAE and accelerating the implementation of smart solutions that enhance the development of the UAE.

DEWA recognises the vital role of renewable and clean energy sources in realising the objectives of the Dubai Clean Energy Strategy 2050 to provide 75% of Dubai’s total power output from clean energy by 2050. Accordingly, DEWA has announced the preferred bidder for its 700 MW concentrated solar power Independent Power Producer (IPP) model project costing AED14.2 billion.

DEWA’s vision is aligned with strategies at both federal and local levels as stipulated in UAE Vision 2021, National Agenda, UAE Centennial 2071, Dubai Plan 2021, and Smart Dubai goals. Accordingly, budget allocations have been made in 2018 for investments in strategic innovation, R&D, renewable energy, green technology, smart grid, energy efficiency, demand side management and other projects.

"We have a holistic approach for the energy sector and we translated that into workable strategies. The budget supports the vision of our leadership to provide citizens and residents with excellent services in a smart and well-connected city, which is recognised as a global model for developing clean energy, inspiring innovation and creativity and promoting sustainability. Accordingly, our investment in disruptive technologies and the launch of the world’s first Sharia-compliant Green Fund are testimony to DEWA’s commitment to realising the aspirations of His Highness Sheikh Mohammed bin Rashid Al Maktoum," said Saeed Mohammed Al Tayer, MD & CEO of DEWA.

"AED10.076 billion of the 2018 budget is allocated to capital projects and capital purchases, compared to AED8.692 billion in 2017. The 2018 budget includes AED2.684 billion for electricity and water generation, AED5.013 billion for power transmission, AED1.745 billion for power distribution and AED0.519 billion for water transmission and distribution projects" explained Al Tayer.

"Transmission projects include building 3 new 400kV substations at a cost of AED1,080 million, 116 KM of 400KV overhead lines at AED812 million, and 10 new 132KV substations at a cost of AED855 million. AED1.294 billion has been allocated for laying 235 km of 132kV cables and for installing substation control systems.

To increase DEWA’s water storage capacity, AED165 million has been allocated for constructing a 30 MIG reservoir in Hatta and upgrading pumping stations at Jebel Ali – Habab and Khawaneej. DEWA’s 2018 operating budget is AED15.420 billion compared to AED14.869 billion in 2017. The administration capital budget is AED921 million," added Al Tayer.

"DEWA’s 2018 Budget combines ambitious initiatives and innovative projects that expand capacity in generation and transmission, strengthen the reliability and security of the network and contribute to making Dubai the smartest city in the world that is committed to energy efficiency and green growth and is a model of for resource sustainability," concluded Al Tayer.

Follow Emirates 24|7 on Google News.