Dewa, PowerChina to promote sustainable energy solutions

Saeed Mohammed Al Tayer, MD and CEO of the Dubai Electricity and Water Authority (Dewa), has received a high-level delegation from PowerChina to discuss cooperation in energy and water.

The visiting delegation included Peng Gang, Vice President of PowerChina-Intl and President of PowerChina MENA; Gao Fei, Vice President of PowerChina MENA; Chen Yunpeng, Vice President of SEPCOIII, a subsidiary of PowerChina; and Hong Li, Chief Representative of PowerChina in the UAE.

The discussions centred on potential collaboration areas, including renewable energy projects, smart grid solutions, water infrastructure development, and joint research and development initiatives.

Al Tayer emphasised DEWA’s commitment to sustainability and innovation, particularly in alignment with the outlined in the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy 2050, which aim to provide 100% of the required energy from clean energy sources by 2050

PowerChina delegation expressed interest in collaborating with Dewa to explore new ventures and exchange knowledge in the energy and water sectors.

Separately, Dubai Electricity and Water Authority (Dewa) has started receiving applications from exhibitors and companies to participate in the 26th Water, Energy, Technology and Environment Exhibition (WETEX), which is being held from 1st to 3rd October 2024 at the Dubai World Trade Centre.

WETEX is a key event in the sectors of sustainability, energy, water, smart cities, sustainable real estate development, green mobility, and others. Major local and international companies from the government and private sectors are keen to participate in the exhibition annually, as it provides an ideal platform for companies, investors, and visitors to learn about the latest innovations, solutions, and technologies in these sectors, exchange expertise and experiences, conclude deals and build partnerships, in addition to identifying market needs, exploring investment opportunities in local and regional markets, and reaching thousands of exhibitors, participants, officials, and decision-makers.

The 25th WETEX attracted 2,600 companies from 62 countries, 76 sponsors, and 24 country pavilions from 16 countries. The exhibition covered an area of 78,000 square metres. On the sidelines of the exhibition, Dewa organised seminars and discussion sessions with the participation of many international experts and specialists.

WETEX 2023 attracted many local and international specialised companies in environmental and digital transformation, smart infrastructure, smart buildings, sustainable cities, sustainable agriculture, and food and water security. The exhibition united top clean energy companies using the latest tech for sustainability. Public and private water sector companies also participated, along with real estate developers promoting sustainable practices.

A week earlier, Dubai Electricity and Water Authority reported its first quarter of 2024 consolidated financial results, recording quarterly revenue of Dhs5.8 billion, EBITDA of AED 2.6 billion, operating profit of AED 995 million and net profit of Dhs651 million.

“The high demand growth of 6.4 percent in electricity and 5.9 per cent in water have contributed to exceptional operating results in this quarter as reflected in 9 per cent increase in EBITDA (the highest first quarterly EBITDA in DEWA’s history) and 11.6 per cent increase in operating profit of the group. We will continue to focus on our core strategic objective of delivering sustainable growth, staying at the forefront of smart and innovative operational excellence and optimising returns for all our stakeholders,” said Saeed Mohammed Al Tayer.

“Dewa is a global role model in the power, water and district cooling sector, providing services to the highest standards of reliability, efficiency, and quality. We support the Dubai Economic Agenda (D33), which aims to double Dubai’s economy over the next decade. Our strategies, initiatives and capital commitments are aligned to achieving the ambitious energy transition goals outlined in the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy 2050, which aim to provide 100% of the required energy from clean energy sources by 2050,” added Al Tayer.

DEWA’s quarterly consolidated revenue increased by 6.7 percent to Dhs5.8 billion in 2024, and this was mainly driven by an increase in demand for electricity, water and cooling services. Dewa’s EBITDA was up by 9.0 percent to Dhs2.6 billion, and its operating profit was up by 11.6 percent to Dhs995 million. Dewa’s net cash from operations was up by Dhs692 million to Dhs 3.3 billion, which is a 26.9 percent increase over the same period last year, demonstrating the company’s strong year- on -year cash flow generation capability.

In the first quarter of 2024, Dewa’s gross power generation soared to a high of 10.3 TWh marking a 6.2 percent increase from the 9.7 TWh recorded during the first quarter of 2023. Notably, DEWA generated 1.46 TWh of clean power during the quarter, which is a 19.8 percent increase over the same period of last year.