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Dubai Electricity and Water Authority
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The Dubai Electricity and Water Authority (DEWA) (هيئة كهرباء ومياه دبي) is a public service infrastructure company that was founded on 1 January 1992 by Sheikh Maktoum bin Rashid Al Maktoum.[1]
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History
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DEWA was formed by merger of the Dubai Electricity Company and the Dubai Water Department that had been operating independently until then. These organizations were established in 1959 by Sheikh Rashid bin Saeed Al Maktoum, the ruler of Dubai at the time.[1] The objective of the state-run company is making available to the people of Dubai an adequate and reliable supply of electricity and water.[2]
As of end of 2019, DEWA employs a workforce of 11,727 employees and provides 915,623 customers with electricity and 816,580 customers with water.[3]
In 2019, DEWA had an installed capacity of 11,400 MW of electric power and 470 million imperial gallons (2.14 billion liters) of desalinated water per day.[3]
After using conventional gas-fired power plants for most of its history, DEWA now builds the 5GW Mohammed bin Rashid Al Maktoum Solar Park which is known for breaking several cost records for solar power both from photovoltaics and from concentrated solar power. After installing an initial 13 MW (DC) solar plant as the first phase in 2013,[4] a further 200 MW (AC) seconde phase were contracted from developer ACWA Power in January 2015.[5] The third phase is an 800 MW PV power plant, which was started in the fall of 2015 and was completed by 2020.[6] DEWA plans a 250 MW pumped-storage hydroelectricity at Hatta using 880 million gallons of water 300 meter above a lower dam.[7]
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Planned initial public offering
DEWA has planned to float 18 percent of its issued share capital as public offering listed on the Dubai Financial Market (DFM), the IPO is estimated to $22.6 billion.[8]
Financial performance
For the year 2022, DEWA has posted a net profit of AED 8 billion.[9]
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References
External links
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