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Home Energy

Dubai Utility Sector Draws Investments Worth $11 Billion Through PPP Law

The PPP partnership is attracting major regional, national, and foreign investments giving a boost to the economy

The Global Economics by The Global Economics
October 14, 2020
in Energy, Top Stories
Reading Time: 1 min read
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Dubai Utility Sector Draws Investments Worth $11 Billion Through PPP Law

Dubai Utility Sector Draws Investments Worth $11 Billion Through PPP Law

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According to Dubai Electricity and Water Authority (#DEWA), the utilities sector of Dubai has drawn investments worth around 40 billion UAE dirhams ($11 billion) from public-private partnership.

The #PPP law will help large-scale investments and open more opportunities for private investments in the United Arab Emirates.

With major construction projects and plans, Dubai seeks to ease the path with the public-private process. In a statement, Dubai utility said that the investments will be made through the Independent Power Producer (#IPP) model.

The IPP model will serve Dubai’s goals in developing solar power projects, while implementing a sustainable economy based on diversity and expertise. With investments worth about 50 billion dirhams ($13.6) billion, the Mohammed bin Rashid Al Maktoum Solar Park has aimed a capacity of 5,000 megawatts by the year 2030.

In a statement, DEWA CEO and MD Saeed Mohammed Al Tayer said that DEWA’s achievements include the lowest global solar prices five times in a row with the aid of the IPP model.

The shift towards various forms of public-private partnership models to develop utility projects in Dubai is gaining ground and aims at cutting capital expenditure.

Tags: DEWAIPPPPP
The Global Economics

The Global Economics

The Global Economics Limited is a UK based financial publication and a bi-annual business magazine giving thoughful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

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