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Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

Capacity of DEWA IPP projects exceeds 4,000 MW

The fibre network also plays a key role in ensuring the continuity of innovative communication services with international standards in the UAE.
  • IPP model enabled DEWA to save an additional investment of AED 26 billion, which it invested in other infrastructure projects
  • DEWA has developed a new benchmark for solar energy prices for every kilowatt hour, thus making Dubai a global benchmark for solar energy prices

The capacity of DEWA’s current projects with the private sector using the Independent Power Producer (IPP) model exceeds 4,000 megawatts (MW), with investments amounting to over AED40 billion, Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA), said on Sunday. 

IPP model enabled DEWA to save an additional investment of AED 26 billion, which it invested in other infrastructure projects. 

The IPP model, Al Tayer said, encourages partnership between the public and private sectors. 

Using this model, DEWA has developed a new benchmark for solar energy prices for every kilowatt hour, thus making Dubai a global benchmark for solar energy prices. 

Al Tayer added that the regulatory and legislative frameworks in Dubai enable the private sector to participate in energy generation projects in the emirate of Dubai and encourage international investors and developers to participate in the projects at the Mohammed bin Rashid Al Maktoum Solar Park, which is implemented by DEWA using the IPP model.

“Previously, DEWA adopted the EPC model (Engineering, Procurement and Construction) for our power generation projects,” Al Tayer explained. “Since 2014, DEWA has pioneered the IPP project management and implementation model.” 

DEWA’s key projects using the IPP model include Mohammed bin Rashid Al Maktoum Solar Park, Hassyan Power Complex and Hassyan Desalination Plant.