(MENAFN- Khaleej Times) The Dubai Electricity and Water Authority (Dewa) has approved a total budget of Dh26.417 billion for 2018 compared to Dh24.358 billion in 2017.
According to a Press statement issued on Saturday, 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 green economy.
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 per cent 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 model project costing Dh14.2 billion.
"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 world model for developing clean energy, inspiring innovation and creativity and promoting sustainability," said Saeed Mohammed Al Tayer, managing director and CEO of Dewa.
"Dh10 billion of the 2018 budget is allocated to capital projects and capital purchases, compared to Dh8.692 billion in 2017. The 2018 budget includes Dh2.684 billion for electricity and water generation, Dh5 billion for power transmission, Dh1.745 billion for power distribution and Dh0.519 billion for water transmission and distribution projects," explained Al Tayer.
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