Al Tayer receives Denmark’s Minister for Business and Growth

HE Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), has welcomed Troels Lund Poulsen, Minister for Business and Growth in the Kingdom of Denmark, and his accompanying delegation, at the Mohammed bin Rashid Al Maktoum Solar Park in Seih Al Dahal, Dubai.

Al Tayer welcomed the delegation, noting that DEWA’s commitment to exchanging skills and experiences with international government and private organisations in sustainable energy and green economy.

Al Tayer highlighted DEWA’s key achievements, initiatives, and projects that support the vision of the wise leadership who recognise the significance of diversifying energy resources, and achieving a balance between development and the environment. This balance protects the rights of future generations to live in a clean, healthy, and safe environment.

Al Tayer and Poulsen posed for a photo in front of a picture of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. The picture, which is made of photovoltaic panels, supports the vision of His Highness to promote the use of solar energy to achieve the sustainable development of Dubai and enhance its position as a global hub for renewable and energy green economy to ensure sustainable future for generations to come. The picture has a capacity of 4 kilowatts (kW), and is connected to DEWA’s grid as part of Shams Dubai initiative, launched by DEWA to support the Smart Dubai initiative, of HH Sheikh Mohammed bin Rashid Al Maktoum, to transform Dubai into the smartest and happiest city in the world. Shams Dubai encourages building owners to install photovoltaic panels to produce electricity and connects them to DEWA’s grid.

Al Tayer highlighted the strategy to transform Dubai into a green economy. “Our strategy involves moving from a carbon-intensive economy to a greener one, through the Dubai Green Fund, which is worth USD 27 billion, encouraging green investments and green growth. This encourages green investment and growth. The Dubai Green Fund supports the UAE Vision 2021, Dubai Clean Energy Strategy 2050, the Demand Side Management Strategy, the National Green Growth Strategy and the Climate Goals as per the Dubai Carbon Abatement Strategy (CAS) and UAE National Determined Contribution (NDC),” said Al Tayer.

Green funding is one of the 5 pillars of the Dubai Clean Energy Strategy 2050. These are Infrastructure, Legislation, Funding, Building capacities and skills and an Environmentally-friendly energy mix. The Dubai Clean Energy Strategy 2050 will make Dubai a global centre for clean energy and green economy. This will contribute to giving Dubai the lowest carbon footprint in the world by 2050.

The Dubai Green Fund will provide financing for viable green initiatives in Dubai such as green loans. The fund will act as a market catalyst alongside existing financiers to help build and accelerate the green sector. DEWA established Etihad Energy Service Company (Etihad ESCO) to boost the model of energy performance contracts by providing financial organisations with the opportunity to invest in energy-efficient projects, aside from green tools and technology suppliers. Financial institutions can become active partners in the sustainable development of Dubai, with plans to retrofit 30,000 buildings to make them energy-efficient. This is part of the Demand Side Management Strategy to reduce energy and water demand by 30% by 2030, the Carbon Abatement Strategy aims to reduce carbon emissions by 16% by 2021.