Dubai Electricity & Water Authority PJSC

On 7th March 2024, the Board of Directors of Dubai Electricity and Water Authority PJSC (DEWA) held a meeting. They endorsed the audited financial statements, annual report, and integrated report for DEWA in 2023. They also confirmed the appointment of KPMG as the external auditor for DEWA for the fiscal year ending 31st December 2024 and agreed on their fees. The Board also reviewed general business matters. The notification was conveyed by Aakash Nijhawan, Group Head of Investor Relations.

The document is a proxy form for a shareholder of the Dubai Electricity and Water Authority (DEWA) to authorize another individual to attend the General Assembly Meeting on their behalf. The meeting is scheduled for 11am on 28th March 2024. The proxy is also granted voting rights for the agenda. The form requires the shareholder's signature and date.

On 26th February 2024, a meeting notification was sent by Aakash Nijhawan, the Group Head of Investor Relations at Dubai Electricity and Water Authority PJSC (DEWA), to Mr. Hamed Ahmed Ali, the CEO of Dubai Financial Market. The Board of Directors of DEWA is scheduled to meet at 9:00am on 7th March 2024. The agenda includes reviewing DEWA's 2023 audited financial statements and annual integrated report, considering the appointment of KPMG as the external auditor for DEWA for the fiscal year ending on 31st December 2024, and determining their fees. Other business matters will also be discussed.

In 2023, the Dubai Electricity and Water Authority (DEWA) received 23 regional and international awards, bringing its total number of awards from 2015 to 2023 to 433. DEWA also set a Guinness World Record for the largest Concentrated Solar Power (CSP) project and the largest thermal energy storage plant, both part of the 4th phase of the Mohammed bin Rashid Al Maktoum Solar Park. Key awards DEWA received in 2023 include the Hydrogen Project of the Year award for its Green Hydrogen Project, and the World Energy Transition Leader 2023 awarded to DEWA's CEO, Saeed Mohammed Al Tayer. DEWA also won the Ministry of Energy and Infrastructure’s ‘Research and Innovation Award’, the Green Apple Environment Awards, and the Equity Capital Markets Deal of the Year 2022 for its successful AED22.32 billion ($6.1 billion) IPO conducted in 2022.

Dubai Electricity and Water Authority PJSC (DEWA) has announced its record annual operating and financial results for 2023. The company reported its highest ever annual revenue and operating profit, alongside the highest recorded annual power generation of 56.1 TWh and clean power generation of 6.2 TWh. DEWA also achieved a peak demand of 10.4 GW and a record total installed capacity of 15.7 GW. The company's consolidated revenue increased by 7% to AED 29.2 billion in 2023, driven by increased demand for electricity, water, and cooling services. DEWA's full year audited results are expected to be released in the first week of March 2024.

The Board of Directors of the Dubai Electricity and Water Authority (DEWA) has approved the release of the company's preliminary and unaudited financial statements for 2023. They have also approved the agenda for DEWA's Annual General Assembly meeting of shareholders for the financial year ending December 2023. The board endorsed a cash dividend of AED3.1 billion (6.2 fils per share) for the second half of 2023, which is intended to be paid to eligible shareholders in April 2024, subject to shareholder approval at the annual general assembly. The board has approved the invitation for the Annual Assembly meeting of shareholders on 28 March 2024, subject to the approval of the UAE Securities and Commodities Authority. This invitation is expected to be published in the first week of March 2024. Other business matters were also reviewed.

The Dubai Electricity and Water Authority (DEWA) reported a 59% increase in usage of its EV Green Charger services for electric vehicles in 2023. The initiative recorded over 1.1 million charging sessions throughout the year. Since 2015, DEWA has provided more than 23,000 MWh of electricity for EV charging, powering over 117 million kilometres of electric vehicle distance. The number of EVs in Dubai reached 25,929 by the end of 2023, and the number of EV owners registered under the initiative increased from 14 in 2015 to over 13,959 by the end of 2023. The initiative supports the UAE’s position as a leader in EV adoption and aligns with Dubai’s strategic objectives for sustainability and reduction of greenhouse gas emissions.

On 22nd January 2024, Aakash Nijhawan, the Group Head of Investor Relations at Dubai Electricity and Water Authority PJSC (DEWA), notified Mr. Hamed Ahmed Ali, the CEO of Dubai Financial Market, about a Board of Directors meeting. The meeting is scheduled for Thursday, February 8th, 2024 at 9:00 am. The agenda includes the release of DEWA's preliminary and unaudited financial statements for the year 2023 and discussion of other business matters.

The Dubai Electricity and Water Authority (DEWA) has started operational testing for the 829 MW fourth phase of its H-Station power plant in Al Aweer. The tests include the initial operation of turbines and power generators and connecting to the power grid. The project, which is worth AED 1.1 billion, will increase the total capacity of the H-Station to 2,825 MW. The testing will ensure the quality and reliability of the units’ operations on the network and will continue until the project is completed in Q2 2024. The project is being implemented by a consortium including Siemens Energy and Elsewedy Power, with contributions from other local and regional companies.