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Adjusted EBITDA rises to $2.36bn.

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The H1 revenue stood at $2.72 billion.

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The company posted a net profit of $692m.

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Bavarian & DEWA discuss renewable energy collaboration

DEWA and Bavaria delegates meet in Dubai for discussion over renewable energy resources.
  • DEWA and Bavarian officials met to discuss partnership in clean energy
  • By 2050, Dubai plans to fulfill 75 percent of its energy requirements through renewable sources

Officials at the Dubai Electricity and Water Authority or DEWA met with members of a delegation from the German region of Bavaria to talk about methods of stabilizing collaboration in renewable energy, boosting relations, and interchanging knowledge with German businesses, said local reports on Saturday, October 23.

The delegations were led by DEWA MD and CEO Sayed Mohammad Al Taher and Roland Weigert, who is Vice-Minister of Economic Affairs, Regional Development and Energy in Bavaria.

While showcasing importance of boosting strategic collaboration of DEWA and German entities in renewable energy, Al Tayer displayed the methods by which they plan to expand renewable energy in accordance with Dubai’s strategy of providing 75 percent of energy from renewable sources by 2050.

Another project which he showed was a green hydrogen facility, commissioned by DEWA in Dubai’s Mohammad Bin Rashid Al Maktoum solar park. The project is reportedly the largest in world with a potential capacity of 5,000MW by 2030.

It is expected to produce green hydrogen using renewable sources.

It is also expected to enable the green mobility sector while decreasing carbon emissions in various industries.