Dubai Electricity and Water Authority (DEWA) plans to invest AED 40 billion (~$10.88 billion) on capital expenditure in the next five years, including expanding renewable and clean energy projects.

According to Saeed Mohammed Al Tayer, MD & CEO of DEWA, the company intends to invest about AED 16 billion (~$4.35 billion) to strengthen and expand electricity and water transmission and distribution networks. It also plans to invest AED 12 billion (~$3.26 billion) to complete the independent power producer projects in the Mohammed bin Rashid Al Maktoum Solar Park, the Hassyan Power Complex, and independent water producer projects at Hassyan.

A part of the capital expenditure will be used to complete other ongoing DEWA infrastructure and smart systems projects.

The Emirates Central Cooling Systems Corporation, whose 70% equity is owned by DEWA, plans to spend around AED 3 billion (~$816.74 million) to expand district cooling capacity and network to meet demand growth for district cooling services.

DEWA stated it has strategic partnerships with local and international companies to implement renewable energy and water desalination projects. It claimed it had made Dubai a global benchmark for solar power prices.

“DEWA will continue to invest and enhance renewables’ generation capacity through informed plans based on the latest tools for future foresight, to meet the increasing demand for electricity and water. We provide our services as per the highest levels of quality, availability, reliability, and efficiency and will keep pace with the rapid growth of Dubai across all areas. Our plans will consolidate Dubai’s position as an advanced model that provides a favorable and supportive environment for investments,” added Al Tayer.

In January, DEWA announced that it had increased the production capacity of the first project of the fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park to 330 MW from 300 MW earlier. Around 60% of the 900 MW fifth phase of the solar park was completed with investments of AED 2.058 billion (~$560.3 million).

In September, DEWA inaugurated a pilot project for energy storage at the Mohammed bin Rashid Al Maktoum Solar Park using Tesla’s lithium-ion battery solution. The project has a power capacity of 1.21 MW and an energy capacity of 8.61 MWh with a life span of up to 10 years. DEWA is also implementing a 250 MW pumped-storage hydroelectric power station in Hatta. It will generate electricity using the water stored at Hatta Dam with a storage capacity of 1.5 GWh.