Dubai is assigning $ 22 billion for energy projects

Dubai is assigning $ 22 billion for energy projects

Dubai is assigning about 81 billion Dirhams (around $ 22 billion), planned to be invested in energy projects over the next five years as the share of renewable energy sources in the total electricity production rises.

DEWA’s CEO, Saeed Mohammed Al Tayer, declared recently that the Authority has recently given a contract for the construction of 815 MW of gas turbines in unit (H) at Al Aweer Station in Dubai to a consortium of two companies, the German “Siemens” and the Egyptian “Elsewedy Electric”.

Al Tayer said, in an interview with Bloomberg, that the Authority is also building the largest solar energy farm in the world, in an effort to reduce the dependence on natural gas as the main source of electricity generating.

Al Tayer mentioned that the company’s strategy is to convert 75% of Dubai’s energy sources to renewable energy sources by the year 2050. He also added that Dubai seeks to convert 7% of its energy sources to renewable ones, by 2020, but they would achieve more than that, as they are expected to be able to convert 8% or 9%.

Al Tayer also revealed that DEWA is constructing the first hydroelectric storage and pumping station, with a capacity of 250 MW.

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Arnaud Lefevre

Arnaud Lefevre is the Chief Executive Officer of Dynatom International. Arnaud is in charge of the international development of the business portfolio.