DEWA’s Installed Power Generation Capacity to Cross 22 GW

Dubai Electricity and Water Authority, the Emirate of Dubai’s exclusive electricity and water services provider, which is listed on the Dubai Financial Market (DFM), expects total installed generation capacity to reach 22 GW, out of which 7.5 GW, representing 34% of generation mix, will be sourced from clean energy sources, up from the original target of 25%.

By the first quarter of 2025, the company’s system installed generation capacity was 17,579 MW with 3,460 MW of this capacity coming from clean energy sources which represents 20% from the energy mix.  

DEWA operates four plants – Jebel Ali and Al Aweer (11,519 MW), MBR Al Maktoum Solar Park (3,460 MW), Hassyan Power Plant (2,400 MW) and Waste to Energy Plant (200 MW), DEWA said in a bourse filing on Monday.

In the first quarter, DEWA generated a record 10.50 TWh, representing a 2.83% increase over the same period in 2024. During this quarter clean power generated was 1.86 TWh, contributing 17.7% to the overall power generation. Simultaneously, desalinated water production in the quarter reached a record 35.61 BIG, showcasing a 4.56% increase.

By 2030, DEWA will add 240 MIGD of desalination capacity, using seawater reverse osmosis technology and total installed desalinated capacity will reach 735 MIGD by that time. DEWA also commissioned two 132kV substations, and 441 11-6.6 kV substations in the quarter. 

Saeed Mohammed Al Tayer, Vice Chairman and MD & CEO of DEWA, said that the company was committed to be an innovative and sustainable corporation and has been progressing in its journey to Net Zero by 2050 and will continue to play a decisive role in Dubai’s rapid progress.

Financial Results

Coming to the financial results for Q1-2025, the company said that it has recorded a quarterly revenue of $1.62 billion, EBITDA of $660 million, operating profit of $228.15 million and net profit of $135.04 million.

DEWA also generated a record net cash from operations of $1.05 billion resulting in closing cash and cash equivalents of $2.22 billion, which was $560 million higher than the balance as at year-end 2024.

Al Tayer said that with consistent growth in demand for electricity, water and cooling services, DEWA’s revenue grew by 2.83% to $1.62 billion in the quarter and more notably the net cash flow from operations grew 17.86% higher than the amount in the same period of the previous year.

“We invested $620 million in infrastructure during the quarter, mainly related to our energy transition strategy. Overall, we are confident of continuing to deliver results exceeding our historical performance, which will translate into long term value creation for our shareholders,” he said.

DEWA also increased its customer base by an impressive 11,614 customer accounts during the quarter. In the last 12 months, ending with the first quarter of 2025, the total number of customer accounts increased by 57,339, representing yearly growth of 3.7%.

Dividends

As per DEWA’s dividend policy, the Company expects to pay a minimum annual dividend of $1.69 billion in the first five years starting October 2022. The dividends are paid semi-annually in April and October.

On 10 April 2025, DEWA distributed $840 million as dividend for H2 of 2024 to its shareholders, based on a record date of 3 April 2025. The upcoming dividend of $840 million for H1 of 2025 is expected to be distributed in October 2025, subject to all necessary approvals.