Dubai Electricity and Water Authority (DEWA) has successfully attracted AED43.6 billion ($11.87 billion) in investments over the past ten years through its Independent Power and Water Producer (IPWP) model, as per a statement from the Dubai Media Office (DMO).
Pioneering Dubai’s Green Economy
These IPWP projects are integral to Dubai’s ambition to become a global leader in the green economy, reflecting the vision of Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. DEWA’s implementation of the IPWP model has achieved the world’s lowest Levelised Cost Of Energy (LCOE) for solar projects, establishing Dubai as a global benchmark for solar energy pricing.
DEWA’s Renewable Energy Initiatives
Saeed Mohammed Al Tayer, managing director & CEO of DEWA, highlighted that Dubai’s regulatory and legislative frameworks enable private sector participation in energy generation projects. This has encouraged international investors and developers to engage in projects like the Mohammed bin Rashid Al Maktoum Solar Park, which DEWA is executing through the IPP model. Al Tayer also noted that these projects support the Dubai Economic Agenda D33, aiming to double Dubai’s economy in ten years and place it among the world’s top three cities.
The IPWP projects are also aligned with the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy 2050, which aim for 100% clean energy production capacity by 2050.
Major IPWP Projects
Key projects under this model include the Mohammed bin Rashid Al Maktoum Solar Park, which targets over 5,000MW by 2030 with an investment of AED50 billion. The 1,800MW sixth phase, costing about AED5.5 billion, is currently underway. Additional projects include the 2,400MW Hassyan Power Complex and a 180 million imperial gallons per day seawater reverse osmosis desalination project in Hassyan, valued at AED3.4 billion.
Strengthening Dubai’s FDI Appeal
DEWA’s initiatives are in line with Dubai’s status as a premier destination for foreign direct investment. In 2023, Dubai attracted over AED39.2 billion in FDI, creating approximately 45,000 jobs. Since its adoption in 2014, DEWA’s IPWP model has fostered government-private sector partnerships, contributing significantly to Dubai’s clean energy and net-zero emissions targets for 2050.