Dewa, Korean delegation discuss sustainable energy collaboration
Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (Dewa), welcomed a delegation from the Republic of Korea, headed by Prof Won-Soo Kim, Rector of the Global Academy for Future Civilisation at Kyung Hee University, and Prof Yeo Hwasoo from the Korea Advanced Institute of Science & Technology (KAIST).
The meeting explored ways to strengthen collaboration in future energy strategies, emerging technologies and the hydrogen economy, aligning with Dubai's vision to drive global sustainability efforts.
Discussions centred on Dubai's pioneering initiatives in clean energy and technology, including the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy 2050, which aim to ensure 100 per cent of the emirate's total power capacity comes from clean sources by 2050.
Collaboration with Kyung Hee University and KAIST is intended to bolster knowledge exchange in AI, smart grids and policy frameworks, cementing Dubai's position as a hub for the Fourth Industrial Revolution.
The meeting was attended by representatives of Korean universities and research centres, as well as DEWA officials including Waleed bin Salman, Executive Vice President of Business Development and Excellence; Dr Yousef Al Akraf, Executive Vice President of Business Support and Human Resources; and Marwan bin Haidar, Executive Vice President of Innovation and the Future.
Meanwhile Dubai Electricity and Water Authority (Dewa), reported its first quarter 2025 consolidated financial results, recording quarterly revenue of Dhs5.96 billion.
Earnings before interest, taxes, depreciation, and amortisation (Ebitda) amounted to Dhs2.43 billion, with an operating profit of Dhs838 million and a net profit of Dhs496 million.
The company also generated a record net cash from operations of Dhs3.85 billion resulting in closing cash and cash equivalents of Dhs8.17 billion, which is Dhs2.07 billion higher than the balance as at year-end 2024.
'Dewa is committed to be an innovative and sustainable corporation inspired by the vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, and the directives of Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, and Chairman of The Executive Council of Dubai, and Sheikh Maktoum Bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance. Under their guidance, we are progressing in our journey to Net Zero by 2050 and will continue to play a decisive role in Dubai's rapid progress,' said Saeed Mohammed Al Tayer, Vice Chairman and MD & CEO of Dewa.
'With consistent growth in demand for electricity, water and cooling services, our revenue grew by 2.83 per cent to Dhs5.96 billion in the quarter and more notably our net cash flow from operations grew to Dhs3.85 billion, which is 17.86 per cent higher than the amount in the same period of the previous year.
Our financials reflect a healthy operating profit of Dhs838 million in the quarter, and an Ebitda of Dhs2.43 billion. We invested Dhs2.26 billion in infrastructur, mainly related to our energy transition strategy.
By 2030 we expect total installed generation capacity to reach 22 GW, out of which 7.5 GW, representing 34 per cent of generation mix, will be sourced from clean energy sources, up from the original target of 25 per cent.
Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (Dewa), welcomed Wolfgang Hattmannsdorfer, the Federal Minister of Economy, Energy and Tourism of Austria, and Etienne Berchtold, the Ambassador of the Republic of Austria to the UAE.
The meeting was attended by Waleed bin Salman, Executive Vice President of Business Development and Excellence at Dewa; Dr. Yousef Al Akraf, Executive Vice President of Business Support and Human Resources; and Marwan Bin Haidar, Executive Vice President of Innovation and the Future at Dewa.
The discussions focused on Dewa's efforts to foster global partnerships in sustainability, renewable energy and climate action, in line with the UAE's vision to spearhead the transition to a green economy.
Talks also covered measures to strengthen co-operation to accelerate the green energy transition, address climate challenges and exchange best practice in environmental sustainability. Both sides emphasised the crucial role of technology and knowledge sharing in advancing innovative solutions to global environmental issues.
Al Tayer highlighted Dubai's strategic clean energy objectives, aligned with the UAE Net Zero Strategy 2050, as well as the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy 2050, which aim to meet 100 per cent of the emirate's energy needs from clean sources by 2050.
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