Connect with us

United Arab Emirates

Dubai’s DEWA holds resources of almost Dh200 billion, says CEO Al Tayer

Published

on

DEWA has been set apart for the first of 10 IPOs of Dubai-owned enterprises

The Dubai-claimed utility substance DEWA right now has resources of almost Dh200 billion and activities with a consolidated worth of around Dh86 billion, as per a high ranking representative.

The reports on DEWA’s monetary and functional status comes after the organization was affirmed as the first of 10 IPOs Dubai is getting ready for driving government-possessed undertakings. These numbers ought to be sufficient to enthuse financial backers peering toward the chance of participating in the forthcoming IPO.

The ventures will be appointed in the following five years, “to fulfill the expanding need for power and water in the emirate,” said Saeed Mohammed Al Tayer, Managing Director and CEO of Dubai Electricity and Water Authority. “This is accomplished through an unmistakable system and a guide to change Dubai into a focal point of greatness for new advances important to accomplish net zero outflows and arrive at 100% clean energy by 2050.

“DEWA has prevailed with regards to acquiring the certainty of significant financial backers to work in its significant activities, particularly in sustainable and clean energy utilizing the Independent Power Producer (IPP) model. Through this model, DEWA has drawn in with regards to Dh40 billion.

“With its arrangement of differentiated undertakings, DEWA is changing Dubai into a worldwide center for clean energy, utilizing distinctive troublesome advances, with an emphasis on enhancing the energy blend, as we endeavor to work on the personal satisfaction for every one individuals living in the UAE.”

Developing client base

At this point, DEWA’s client accounts absolute more than 1 million, with the normal yearly increment at 7%. Last year was a fantastic one for the utility substance, as it confronted the test of dealing with the abrupt and supported spike in power use during the pinnacle COVID-19 months. During the stage, normal use shot up 6.6 percent – the greatest such increase beginning around 2012, as per DEWA records.

“The move will assist DEWA with extending its extent of work and will add to giving new positions to Emiratis, support the business area and fortify vital associations between general society and private areas,” said Al Tayer.

Announcements

UAE fuel prices announced for February

Published

on

The UAE fuel price committee on Friday announced petrol and diesel prices for the month of February 2025.

Super 98 petrol will cost Dh2.74, compared to Dh2.61 a litre in January, while Special 95 will cost Dh2.63 a litre, compared to Dh2.50 a litre the previous month.

E-Plus category petrol will be available for Dh2.55 a litre, compared to Dh2.43 a litre in January, while diesel will now cost Dh2.82 a litre, compared to Dh2.68 a litre the previous month.

Fuel prices in the UAE are closely tied to movements in the global oil market, which has experienced significant fluctuations since last year. Geopolitical uncertainties, shifting supply dynamics and concern about slowing economic growth have all contributed to the volatility in oil prices.

The UAE deregulated fuel prices in 2015, aligning them with market fluctuations.

Continue Reading

Announcements

UAE-made MBZ SAT set to launch into space from California tonight

Published

on

The UAE’s most advanced Earth-imaging satellite, MBZ-SAT, will launch on Tuesday, January 14, at 10:49 PM UAE time from Vandenberg Air Force Base in California, the Mohammed Bin Rashid Space Centre (MBRSC) has announced.

This marks the second satellite entirely developed by Emirati engineers. MBZ-SAT, weighing 700 kg, will launch alongside the student-built CubeSat, HCT-SAT 1, as part of SpaceX’s rideshare program. Originally planned for October 2024, the launch was delayed due to technical issues with SpaceX’s Falcon 9 rocket. A livestream of the event will be available from 9:30 PM UAE time at live.mbrsc.ae.

The SpaceX rideshare program, introduced in 2019, has enabled the deployment of over 200 satellites, offering a cost-effective alternative to traditional launches.

MBZ-SAT, named after President Sheikh Mohamed, will revolutionize Earth observation with enhanced imaging capabilities, producing ten times more images than current satellites. Meanwhile, HCT-SAT 1 underscores the UAE’s commitment to fostering future space experts.

Salem Humaid Al Marri, Director-General of MBRSC, stated, “We have a team of seven members on-site in the US and another at Mission Control in Dubai, working around the clock to ensure a successful launch.”

The UAE currently operates 10 satellites, with eight more under development. MBZ-SAT underwent rigorous testing in the UAE before being transported to South Korea for environmental assessments. Afterward, it was shipped to SpaceX in the US for final testing.

Marri described the simultaneous launch of these two distinct satellites as a moment of national pride. He emphasized the significance of combining advanced space technology with initiatives like the HCT-SAT program, which involved 50 students from across the UAE. This dual effort, he said, highlights the country’s dedication to building a robust space industry while nurturing local talent.

4o

Continue Reading

Announcements

Ring in the New Year on Dubai’s waters: Abra, Taxi & Ferry with Atlantis views

Published

on

As Dubai residents and tourists gear up to celebrate New Year, they can ring in 2025 with celebrations in the waters of the emirate.

The Roads and Transport Authority in Dubai has announced special offers and exclusive services during the New Year’s Eve, December 31, 2024, on marine transport means including the Dubai Ferry, the Abra, and the Water Taxi.

Passengers can enjoy views of the Burj Khalifa, Bluewaters, Atlantis, Burj Al Arab and Jumeirah Beach Towers. Residents can cruise into 2025 aboard the Dubai Ferry, Water Taxi, and Abra, with the backdrop of the Dubai coastline, adorned with hotels, heritage areas and landmarks such as The World Islands.

Continue Reading

Popular

© Copyright 2024 HEADLINE. All rights reserved

https://headline.ae/