Dubai’s utilities sector has attracted investments totalling nearly 40 billion UAE dirhams ($11 billion) through the public-private partnership (PPP) route, according to the Dubai Electricity and Water Authority (DEWA).
The Dubai utility said in a statement that investments were routed through the Independent Power Producer (IPP) model.
DEWA is using the IPP model to develop solar power projects within the largest single-site solar park in the world. The Mohammed bin Rashid Al Maktoum Solar Park has a planned capacity of 5,000 megawatts (MW) by 2030 with investments up to 50 billion dirhams ($13.6 billion).
DEWA MD and CEO Saeed Mohammed Al Tayer said DEWA had achieved the lowest global solar power prices five times in a row through the IPP model.
In May, Al Tayer had said the total capacity of projects under construction at the solar park is 1,850 MW. The completed capacity amounted to 1,013MW.
(Writing by Anoop Menon; editing by Seban Scaria)
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