md-ceo-of-dewa-discusses-investment-in-energy-and-opportunities-for-growth-partnership-and-innovatio

In the presence of HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, HE Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), participated in a discussion panel on opportunities for growth, partnership, and innovation at the Dubai Investment Forum 2015, organised by the Dubai Investment Development Agency of the Department of Economic Development, under the patronage of HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Dubai Executive Council, at Madinat Jumeirah in Dubai. 

 The panel included HE Hussain Lootah, Director General, Dubai Municipality, HE Humaid Al Qatami, Chairman of Dubai Health Authority, and HE Khalifa Al Zaffin, Executive Chairman of Dubai Aviation City Corporation, also participated in the panel which was moderated by Matthieu De Clercq, Partner at Oliver Wyman. Al Tayer also delivered a keynote speech at the forum, which was co-organised by DEWA as a Strategic Partner. He discussed trade and investment opportunities in Dubai, and how to take advantage of these opportunities to promote the business sector and develop investments. Al Tayer welcomed the participants and pointed out that Dubai Government attaches great importance to encouraging investment and participation by the private sector. He emphasised that DEWA welcomes investors to take part in its ambitious projects. “We are gathered here today because Dubai Government, following the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, attaches great importance to encouraging investment and participation by the private sector in Dubai’s development projects. 

Dubai Government issues laws and regulations that streamline partnerships, simplify procedures, and provide an environment that attracts investments and conducive for businesses, while ensuring the rights of all parties. The latest of such regulations was Law number 22 of 2015, regulating partnerships between the public and private sectors in Dubai, issued by His Highness this August. This law encourages the private sector to participate in development projects and investment more in different areas to serve the economic and social development of the Emirate. It also enables society to get the best services at lower costs. Thanks to the vision of our wise leadership, Dubai has become an important regional hub for trade and finance, with over 20,000 global companies having offices in Dubai. 

In 2014, the Emirate attracted direct foreign investments totalling around AED28.6 billion thanks to its competitive advantage. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai once observed that, “A very clear message to the world that the UAE people will settle with nothing less than being number one, and such an accomplishment will require even further effort and hard work from everyone, and directed the unification of all efforts to fulfill Vision 2021 for the UAE to be among the top nations in the world in all fields and aspects”. Al Tayer noted that DEWA is committed to building strategic relations and partnerships with various local, regional, and global organisations. This supports the directives of the wise leadership to attract investment and encourage partnerships. 

We strongly believe in the importance of cooperation in achieving success, excellence, and business development. This supports DEWA’s vision to become a sustainable innovative world-class utility. DEWA works with local and international partners in most of its major projects, through contracts or as Independent Power Producers. One of the major projects DEWA is implementing, in cooperation with the private sector, is the Mohammed bin Rashid Al Maktoum Solar Park, which is the largest single-site solar energy project in the world, and will produce 3,000MW by 2030. 

Another project is the Hassyan clean coal power plant, whose first phase of 1,200MW, and is expected to be operational by 2020. “DEWA has received globally-competitive prices for these projects thanks to investors’ trust and the international reputation of Dubai, the transparency in all our projects, and DEWA’s excellent financial position. Over the years, DEWA has proved its economic efficiency as an organisation with strong financials. DEWA has been upgraded lately by Moody’s to Baa2 with a stable outlook, and Standard & Poor’s has given a credit rating of BBB with a positive outlook. 

DEWA will invest AED 60 billion in Dubai’s energy and water sector over the next five years to meet increasing demand for them. Growth in the annual electricity peak load increase is 6.4% and the peak demand for water is 6.8% during 2015. This will provide great investment opportunities, will support the growth of a green economy and create a competitive advantage for the UAE in clean energy and energy-efficiency technologies. DEWA has also allocated over AED 2.6 billion to support electricity, water and renewable energy infrastructure projects, according to the highest international standards. This, combined with other stakeholders’ efforts in Dubai, will contribute to organising the best World Expo in 2020, in Dubai. 

We will focus on renewable energy sources to support Dubai Expo’s theme of ‘Connecting Minds, Creating the Future’ and its three sub themes of sustainability, mobility, and opportunity,” added Al Tayer. “Thanks to the contribution of our successful partnerships, DEWA has achieved several milestones globally, surpassing major European and American companies in different areas. For example, losses in power transmission and distribution networks was reduced to 3.26%, compared to 6-7% in Europe and the USA. Water network losses decreased to 9.1%, compared to 15% in North America. DEWA’s results are among the best internationally for customer minutes lost per year. DEWA’s figures reached 4.9 minutes, compared to 15 minutes recorded by leading utilities in the European Union. 

The UAE, represented by DEWA, has been ranked fourth globally and first in the Middle East and North Africa for the second consecutive year for getting electricity as per the World Bank’s Doing Business 2015 report. DEWA has also launched three smart initiatives to support the Smart Dubai initiative, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum. These are Shams Dubai, to encourage building owners to install photovoltaic panels to generate electricity and connect it to DEWA’s grid. 

The second initiative, Smart Applications and Meters, includes using smart applications through smart meters and grids. The third initiative, the Green Charger, establishes the infrastructure and builds electric vehicle charging stations. These mega projects contribute to reaching a Smart Dubai and achieving the Dubai Plan 2021 to make Dubai the preferred place to live, work, and visit, and one of the world’s leading business centres,” noted Al Tayer. “I thank you for being with us today. I also thank Dubai Investment Development Agency for organising this important forum. I assure you that DEWA welcomes you as partners in implementing its ambitious projects, so that we will all become part of Dubai’s success story, the Emirate whose ambitions have no limits. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai once observed that: “Without ambition that knows no limits, we can never build a bright future for generations to come,” concluded Al Tayer.