DEWA's innovative IPW model draws substantial investment
(MENAFN) Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), announced that DEWA has successfully developed the Independent Power and Water Producer (IPW) model, leveraging top international expertise and practices. This model is tailored to meet the specific legislative and technical requirements of Dubai. In a statement issued by DEWA on Sunday, Al Tayer highlighted that the independent producer model has attracted investments totaling AED 43.6 billion (approximately USD11.9 billion) over the past decade. These "independent producer" projects have fostered partnerships between the public and private sectors, allowing DEWA to secure the lowest global prices per kilowatt hour for solar energy projects. Consequently, Dubai has become a global benchmark for solar energy pricing.
Al Tayer also emphasized that the regulatory and legislative frameworks in Dubai, which permit private sector involvement in energy production projects, have encouraged international investors and developers to participate in the Mohammed bin Rashid Al Maktoum Solar Park projects. These projects are being implemented under the Independent Power Producer (IPP) system, demonstrating the effectiveness of Dubai’s approach.
DEWA’s IWPP projects are integral to supporting the Dubai Economic Agenda (D33), which aims to double the size of Dubai’s economy within ten years and enhance its status as one of the top three economic cities globally. These projects also contribute to the Dubai Clean Energy Strategy 2050 and the Dubai Carbon Neutrality Strategy 2050, aiming to achieve 100 percent clean energy production by 2050.
Dubai offers an ideal business environment for investors. According to data, Dubai has maintained its position as the leading global destination for foreign direct investment projects for the third consecutive year, underscoring its attractiveness and competitiveness on the international stage.
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