Dubai Electricity & Water Authority PJSC

The Dubai Electricity and Water Authority (DEWA) commissioned 1,414 distribution substations of 11kV across Dubai in 2023. The project took 996,648 man-hours and was executed according to high health and safety standards. This is part of DEWA's initiative to build a state-of-the-art infrastructure to keep pace with sustainable development requirements in Dubai, supporting the goals of the Dubai 2040 Urban Masterplan. The total number of medium voltage substations (11 kV and 6.6 kV) reached 44,015 stations by the end of 2023. All substations were implemented according to the highest standards of quality, efficiency, and safety using the latest digital technologies.

The Dubai Electricity and Water Authority (DEWA) has set two new records at the Mohammed bin Rashid Al Maktoum Solar Park. The park now hosts the 'Tallest Concentrated Solar Power Tower' at 263.126 metres and the 'largest thermal energy storage plant' at 5,907 megawatt hours using Concentrated Solar Power (CSP) based on parabolic basin complex with Molten Salt technology. These records were set in the park's 4th phase, which uses CSP and photovoltaic solar panel technologies. The certificates were received by DEWA's MD & CEO, HE Saeed Mohammed Al Tayer, at COP28, hosted by the UAE at Expo City Dubai.

Dubai Electricity and Water Authority PJSC (DEWA) has announced record operating and financial results for Q3 2023, marking the highest reported quarterly revenue, operating profit, EBITDA and net profit in the company's history. DEWA reported a 10.2% growth in quarterly revenue, 13.9% growth in operating profit, and 9.9% growth in EBITDA. The company also saw a robust net profit growth of 6.9%. There was a quarterly growth of 8.8% for electricity generation and 5.4% for water. The company's net cash from operating activities increased by AED 754 million to AED 9.8 billion, an 8.3% increase compared to the same period last year. Total power generation in Q3 reached 18.897 TWh, a growth of approximately 8.8% compared to the same quarter in 2022.

The Board of Directors of Dubai Electricity and Water Authority PJSC (DEWA) held a meeting on November 10th, 2023, where they approved the company's financial statements for the third quarter, which ended on September 30th, 2023. General business matters were also reviewed and considered during the meeting. The notification was sent by Aakash Nijhawan, the Group Head of Investor Relations.

The CEO of the Dubai Financial Market, Mr. Hamed Ahmed Ali, was notified of a meeting of the Board of Directors of the Dubai Electricity and Water Authority (DEWA) scheduled for November 10th, 2023 at 9:00am. The meeting's agenda includes reviewing the company's financial statements for the quarter ending September 30th, 2023, and discussing other business matters. The notification was sent by Aakash Nijhawan, the Group Head of Investor Relations for DEWA.

Dubai Electricity and Water Authority (DEWA) will pay AED 3.1 billion in dividends to shareholders on October 26th, 2023. The payment, which equates to 6.2 fils per share, was authorized by DEWA's board and is applicable to all shareholders recorded as of October 18th, 2023. The company's CEO, Saeed Mohammed Al Tayer, has stated that DEWA's strategy is focused on sustainable growth, innovative operational excellence, and delivering robust returns to shareholders.