Dubai Electricity & Water Authority will spend Dh81 billion on energy projects over the next five years, with renewables accounting for a growing share of electricity output, chief executive Saeed Al Tayer said.
Last week, Dewa awarded a contract for an 815-megawatt gas turbine project in the Dubai suburb of Al Aweer to Germany's Siemens and Egypt's El Sewedy Power, said Mr Al Tayer. The company is also building the world's largest solar energy park as it seeks to reduce reliance on natural gas as the main source of energy for electricity.
“Our strategy is 75 per cent by 2050 will be renewable,” he said. “By 2020 we will achieve more than our target. Our target is 7 per cent but, I think we will achieve 8 to 9 per cent.”
Dewa is also building the region's first hydroelectric pumped storage plant in Hatta with total capacity of 250MW of power, Mr Al Tayer said.