Dubai Electricity and Water Authority

{{short description|Company}}

{{Infobox company

| name = The Dubai Electricity and Water Authority (DEWA)
{{lang|ar|هيئة كهرباء ومياه دبي}}

| type = Utilities (Government-owned)

| logo = Logo of DEWA.png

| foundation = 1992

| location_city = Dubai

| location_country = United Arab Emirates

| location =

| locations =

| key_people = Saeed Mohammed Al Tayer (CEO)

| industry = Electricity, Water and District Cooling

| area_served = Emirate of Dubai

| products = Utilities

| parent =

| subsid = Emirates Central Cooling Systems Corporation (EMPOWER)

| owner = Government of Dubai

| slogan =

| homepage = {{URL|dewa.gov.ae}}

| dissolved =

| footnotes =

}}

The Dubai Electricity and Water Authority (DEWA) ({{lang|ar|هيئة كهرباء ومياه دبي}}) is a public service infrastructure company that was founded on 1 January 1992 by Sheikh Maktoum bin Rashid Al Maktoum.{{cite web|url= http://www.dewa.gov.ae/aboutus/dewahistory.aspx |title=DEWA: History|publisher=Dubai Electricity and Water Authority|accessdate=24 August 2014}}

History

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. The objective of the state-run company is making available to the people of Dubai an adequate and reliable supply of electricity and water.{{cite book|last1=Wilde|first1=Felix |year=2011 |chapter=Country-specific Organizations and Authorities|title=Worldwide development of nuclear Energy|location=Hamburg |publisher=Diplomica Verlag |page=25 |isbn=9783842859647 |oclc=837778047 }}

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.https://www.dewa.gov.ae/~/media/Files/Customer/Sustainability%20Reports/DEWA%20Sustainability%20Report%202019%20EN.ashx {{Bare URL PDF|date=March 2022}}

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.

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,{{cite web|title=DEWA 13 Solar Plant|url= http://www.firstsolar.com/en/About-Us/Projects/DEWA-13-Solar-Plant.aspx |website=firstsolar.com|publisher=First Solar|accessdate=14 February 2016}} a further 200 MW (AC) seconde phase were contracted from developer ACWA Power in January 2015.{{cite web|title=Dubai Doubling Size of Power Plant to Make Cheapest Solar Energy|url= https://www.bloomberg.com/news/articles/2015-01-15/acwa-power-wins-contract-to-build-dubai-solar-plant-acwa-ceo |website=bloomberg.com|publisher=Bloomberg Business|accessdate=14 February 2016|date=15 January 2015}} The third phase is an 800 MW PV power plant, which was started in the fall of 2015 and was completed by 2020.{{cite news|title=DEWA announces release of Request for Proposal for 800MW 3rd phase of the Mohammed bin Rashid Al Maktoum Solar Park|url=http://www.wam.ae/en/news/emirates/1395289755171.html|accessdate=14 February 2016|agency=WAM Emirates News Agency|date=29 December 2015|archive-url=https://web.archive.org/web/20160223003614/http://www.wam.ae/en/news/emirates/1395289755171.html|archive-date=23 February 2016|url-status=dead}} DEWA plans a 250 MW pumped-storage hydroelectricity at Hatta using 880 million gallons of water 300 meter above a lower dam.{{cite web|url= https://electrek.co/2016/12/23/dubai-to-build-persian-gulfs-first-hydroelectric-plant-880-million-gallon-battery/ |title=Dubai to build Persian Gulf's first hydroelectric plant, 880 million gallon 'battery'|date=23 December 2016|work=Electrek |accessdate=24 December 2016}}

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.{{Cite web |title=DEWA IPO, "valued between $27 billion and $37 billion", will be first of 10 big upcoming listings on the DFM: expert |url=https://www.arabianbusiness.com/money/corporate/capital-markets/dewa-ipo-valued-between-27-billion-and-37-billion-will-be-first-of-10-big-upcoming-listings-on-the-dfm-expert}}

Financial performance

For the year 2022, DEWA has posted a net profit of AED 8 billion.{{Cite web |last=Mansoor |first=Zainab |date=2023-02-09 |title=Dubai's DEWA reports 22% rise in consolidated net profit for 2022 |url=https://gulfbusiness.com/dubais-dewa-reports-22-rise-in-consolidated-net-profit-for-2022/,%20https://gulfbusiness.com/dubais-dewa-reports-22-rise-in-consolidated-net-profit-for-2022/ |access-date=2023-02-12 |language=en-US |archive-date=2023-02-12 |archive-url=https://web.archive.org/web/20230212174504/https://gulfbusiness.com/dubais-dewa-reports-22-rise-in-consolidated-net-profit-for-2022/,%20https:/gulfbusiness.com/dubais-dewa-reports-22-rise-in-consolidated-net-profit-for-2022/ |url-status=dead }}

See also

References

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