DUBAI, 2nd November, 2016 (WAM)–Dubai Electricity and Water Authority (DEWA) participated on Wednesday in the MEED Leaders in Energy Reform Summit, which attracted a number of prominent decision makers in the region.

Sponsored by DEWA, the event discussed the best solutions to meet the region’s growing energy demand, by making major reforms in this sector, diversifying the energy mix, increasing energy efficiency, and enhancing support and funding by the private sector.

Saeed Mohammed Al Tayer, MD & CEO of DEWA, delivered a keynote speech at the summit. Dr. Abdullah Al Shehri, Governor, Electricity & Co-Generation Regulatory Authority, Kingdom of Saudi Arabia, Dr. Ibrahim Saif, Minister of Energy & Mineral Resources, Jordan, and a large number of energy experts and specialists were present at the summit.

“I am pleased to welcome you all to the MEED Leaders in Energy Reform Summit 2016, which is sponsored by DEWA as part of its efforts to implement the directives of our wise leadership represented by 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, who have a vision to make the UAE the most sustainable country in the world by launching promising projects in clean and renewable energy,” Al Tayer said.

This contributes to achieving the UAE Vision 2021 to make the UAE one of the best countries in the world by 2021, and the Dubai Plan 2021 to make Dubai Government pioneering, excellent, proactive, and creative in meeting the needs of individuals and society as a whole,” he added.

“In adherence with the long-term vision of the wise leadership to shape the future, we are working on diversifying our energy mix, and increasing the share of clean energy. To this goal, Sheikh Mohammed bin Rashid announced in November 2015, the Dubai Clean Energy Strategy 2050 to provide 7% of Dubai’s energy from clean sources by 2020, 25% by 2030 and 75% by 2050. Dubai is the only city in the Middle East and North Africa to launch such a strategy, with specific targets and deadlines that outline the future of energy in Dubai until 2050.”

“Dubai Clean Energy Strategy 2050 consists of five main pillars, infrastructure, legislation, funding, building capacities and skills, and an environmentally-friendly energy mix. DEWA’s five-year investment strategy amounts to over AED 65 billion. DEWA has launched a host of successful initiatives and has allocated over AED 2.6 billion to the development of its world-class electricity, water and renewable energy infrastructure in Dubai, ahead of World Expo 2020 in line with its theme of ‘Connecting Minds, Creating the Future,’ which focuses on the concepts of opportunity, mobility, and sustainability,” Al Tayer added.

Al Tayer noted that in addition to energy projects, the Solar Park’s projects include an R&D centre, which includes a solar-testing facility, the Innovation Centre, the Renewable Academy and the solar-powered water desalination station using solar panels to desalinate water with Reverse Osmosis technology. The Solar Park demonstrates DEWA’s strategy to encourage and implement research in renewable energy, and implement creative ideas and suggestions, with a total investment of AED 500 million.

Al Tayer noted that DEWA works to reduce energy consumption by retrofitting buildings into green ones. This supports the Dubai Integrated Energy Strategy 2030 to reduce energy demand by 30% by 2030.

DEWA established the Etihad Energy Service Company (Etihad ESCO), which studies the technical aspects of buildings, to implement solutions based on best international practices and standards in clean energy and green buildings. One of the most prominent projects the company is implementing is retrofitting 157 buildings in Jebel Ali Free zone (JAFZ), after signing an agreement with Economic Zones World, to improve energy and water consumption as the first phase of the project, which will save AED 132 million over 6 years, which is 30% of their annual energy consumption, in the first phase.

“The wise leadership has a long-term vision that realises the importance of adopting sustainability and green projects and the transformation towards a green economy. Sheikh Mohammed bin Rashid has launched the World Green Economy Organisation with the support of the Government of Dubai, and in partnership with the United Nations Development Programme (UNDP).”

The organisation, which will be based in Dubai, aims to promote cooperation between the UAE and countries around the world on green economy. In November 2015, His Highness launched the AED 100 billion Dubai Green Fund, to provide financial tools for investors in clean energy. Seed capital will be provided by the Government of Dubai and DEWA. It is anticipated that green investment in Dubai will be USD 30 billion by 2030, Al Tayer noted.

“I hope that today’s meeting will unite efforts to find the best solutions to energy uses to sustain our resources, and manage the increasing demand for energy,” concluded Al Tayer.