INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Dubai energy demand shoots up by 6.3% in H1 of 2022

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  • He said that the increase in energy demand in Dubai reflects the economic recovery and the return of key activities
  • Dubai has benefited from the Fourth Industrial Revolution technologies and implemented robust precautionary measures to ensure business continuity

Demand for energy in Dubai has shot up 6.3 percent to 23,096 GWh in the first half of the current year, according to Saeed Mohammed Al Tayer, MD&CEO of Dubai Electricity and Water Authority (DEWA).

Al Tayer said, “We continue to raise the production capacity of electricity and water according to the highest standards of availability, reliability, efficiency and quality, thanks to a sound governance system across all DEWA’s operations.”

He said that the increase in energy demand in Dubai reflects the economic recovery and the return of key activities.

Dubai, he said, has benefited from the Fourth Industrial Revolution technologies and implemented robust precautionary measures to ensure business continuity.

“This is to ensure that we keep pace with the growing demand for electricity and water as well as future needs of customers, developers and businesses while providing a convenient margin. DEWA’s growth plans align with Dubai’s 2040 Urban Master Plan, Dubai’s Clean Energy Strategy 2050 and Dubai’s Net Zero Carbon Emissions Strategy 2050, which aims to provide 100% of Dubai’s energy production capacity from clean energy sources by 2050.”

DEWA’s capacity has reached 14,117 megawatts (MW) of electricity and 490 million imperial gallons per day (MIGD) of desalinated water.

DEWA provides electricity and water services to 3.514 million people living in Dubai and the Emirate’s active daytime population of over 4.7 million. These numbers are expected to grow to 5.8 million and 7.8 million, respectively by 2040.