ID :
354912
Thu, 01/22/2015 - 08:33
Auther :

DEWA increases percentage of renewables in energy mix targets

Dubai, 22 January 2015 (WAM): Saeed Mohammed Al Tayer, MD and CEO of DEWA, has announced yesterday that the utility is increasing the percentage of renewables in Dubai’s energy mix target to 7% by 2020 and 15% by 2030. The announcement was made at a discussion panel on the third day of the World Future Energy Summit 2015, currently being held in Abu Dhabi. Razan Khalifa Al Mubarak, Secretary-General of the Environment Agency - Abu Dhabi, EAD, and Mohamed Al Ramahi, Chief Operating Officer of Masdar, also participated in the discussion panel, which was attended by Dr. Sultan Al Jaber, Minister of State and CEO of Masdar. The discussion panel, called Building a Clean Economy Future, was moderated by Eithne Treanor. It discussed different topics in sustainability and energy in the UAE including investment in clean energy, the challenges facing the UAE in this field, and the participation of the private sector. Al Tayer thanked President His Highness Sheikh Khalifa bin Zayed Al Nahyan and Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, for their limitless support of the sustainable development of the UAE. He also thanked His Highness General Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces for his patronage of the World Energy Future Summit, WFES 2015. Al Tayer also announced that DEWA will release a bid for a 500MW photovoltaic (PV) project in 2016 using the Independent Power Producer (IPP) model. The announcement increases the percentage of renewable energy following DEWA’s earlier announcement to double the capacity of phase two of the Mohammed bin Rashid Al Maktoum Solar Park from 100MW to 200 MW. It is one of the world’s biggest strategic IPP projects in the renewable energy market. A consortium led by Saudi Arabia’s ACWA and Spain’s TSK was selected as a Preferred Bidder with the lowest price. This reflects the trust and interest of international investors in Dubai and DEWA, its transparency in all its projects and its strong financial position. The ACWA and TSK consortium was selected based on its alternate proposal for 200MW with an LCOE of 5.84869 US$ cents/kWh. "DEWA managed to get the lowest price thanks to the global trust it enjoys and the encouraging regulations that protect the rights of all parties. Our wise leadership supports partnership between the public and private sectors. The economic and social development depends on utilising the capabilities, resources, and expertise of both the government and private sectors to partner in building and operating different projects. DEWA has been a major proponent of such joint efforts and implemented them in the energy generation sector by adopting the IPP model in the Mohammed bin Rashid Al Maktoum Solar Park and the Hassyan Clean Coal Power Project. The worldwide participation in the bids reflects the trust and interest of international investors to invest in big projects that are supported by the Government of Dubai," said Al Tayer. "DEWA works to achieve the strategy of the Dubai Supreme Council of Energy in Dubai to diversify the energy mix and reduce consumption by 30% by 2030 and we are on track to surpass the previous targets. The UAE, represented by DEWA, has been ranked first in the Middle East and North Africa and fourth globally for the second consecutive year, in getting electricity as per the World Bank’s Doing Business Report. DEWA has a 90% fuel consumption efficiency rate," he added. Al Tayer also noted that renewable energy costs have significantly decreased in recent years and are expected to continue this trend. For example, the prices of PV panels have dropped by 60% since 2011. He explained that investments in the energy sector are expected to surpass Dh56 billion over the next five years to meet Dubai’s growing demand for electricity and water. This will boost green economy and create a competitive advantage for the UAE in clean energy technology and energy efficiency. – Emirates News Agency, WAM – http://www.wam.ae/en/news/emirates/1395275417288.html

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