Dubai Electricity and Water Authority (Dewa) has announced that the capacity of its current projects with the private sector using the Independent Power Producer (IPP) model has exceeded 4,000 MW with the total investments hitting over AED40 billion ($11 billion).
Its key projects using the IPP model include Mohammed bin Rashid Al Maktoum Solar Park, Hassyan Power Complex and Hassyan Desalination Plant, said its top official.
Through this model, Dewa was able to save an additional investment of approximately AED26 billion, which allows it to further invest in other infrastructure projects, explained Managing Director and CEO Saeed Mohammed Al Tayer.
"Through this model, we have achieved world-class results and developed a new benchmark for solar energy prices for every kilowatt hour, thus making Dubai a global benchmark for solar energy prices," he stated.
The IPP projects, he stated, contribute immensely to support the Dubai Clean Energy Strategy 2050 and the Net Zero Carbon Emissions Strategy 2050 that aims to provide 100 per cent of Dubai's power capacity from clean energy sources by 2050.
Previously, Dewa adopted the EPC (engineering, procurement and construction) model for its power generation projects. "Since 2014, Dewa has pioneered the IPP model," Al Tayer added.