The Dubai Electricity and Water Authority is planning to float two tenders for independent power projects (IPPs) by early 2023 as it seeks to boost the emirate's energy and water portfolio.
The tenders will be for a reverse osmosis desalination plant with a capacity of 100 million gallons per day, with an option to increase it to 180 million gallons, as well as a solar photovoltaic plant with a capacity of 900 megawatts, Saeed Al Tayer, managing director and chief executive of Dewa, said at the Wetex event in Dubai on Tuesday.
Dewa's future projects will primarily rely on private developers for investments with the utility investing in equity, said Mr Al Tayer, who did not disclose the value of the planned tenders.
“An IPP is the most economical and most reliable for us because you will have the latest technology and you will have a power purchase agreement for the next 25 years,” he said.
The utility, however, will “have to maintain the efficiency of the plants”, he added.
Dewa is also banking on public-private partnerships to support its operations.
PPPs are seen to be a “vital mechanism” to help governments fund investments and bring technology, innovation and efficiency, which in turn can improve performance and financial sustainability, said Fady Juez, managing director of Metito, an alternative energy management solutions company.
“A PPP project is one of the most efficient and sustainable ways to implement these type of large infrastructure projects because we reach an alignment of interest among all parties involved and everybody works together,” he said.
Dewa is also focusing on boosting the production of clean energy in the emirate.
Dubai is ahead of its carbon emission reduction goals under the Dubai Clean Energy Strategy 2050, which seeks to ensure that 100 per cent of the emirate's power production capacity is from clean energy sources by 2050, Mr Al Tayer said.
The emirate was able to reduce its carbon emissions by 21 per cent in 2021, in line with its ambitions to develop a low-carbon economy, the Dubai Supreme Council of Energy said earlier this month.
At present, about 12 per cent of Dubai's energy mix comes from clean sources, Mr Al Tayer said. The emirate plans to raise that figure to 14 per cent by the end of 2022.
“We are much better than we planned. But we have a strategy, and we are aligned with this. By 2030, we should have about 25 per cent clean energy,” Mr Al Tayer said.
Dewa in April confirmed it will be investing Dh40 billion ($11bn) in capital expenditure over the next five years to power its renewable energy portfolio, shortly after it listed on the Dubai Financial Market.
The utility will earmark Dh16bn to boost its water and electricity network, Dh12bn on existing IPP and Dh3bn on district cooling services, it said at the time.
The remaining amount will complement various existing projects, especially smart systems and infrastructure, it said.
Mr Al Tayer also said that hydrogen energy is the “right technology” to support Dubai's energy needs in the future, but would take some time to become mainstream due to costs.
Hydrogen is poised to match the efficiency of solar power, which the emirate has been investing heavily in as part of its plans to diversify the energy mix, he said.
“It was like solar power: 15 years ago prices were very high, about Dh0.50 per kilowatt, but now it's just about $0.016 [Dh0.073] per kilowatt. We hope that hydrogen will come in this direction,” he told The National.
Dewa's projects have been able to significantly cut operational costs, but there are no immediate plans to reduce tariffs on consumers, with Mr Al Tayer pointing out that the utility “did not increase prices for the past 15 years”.
UAE currency: the story behind the money in your pockets
More from Rashmee Roshan Lall
HIJRA
Starring: Lamar Faden, Khairiah Nathmy, Nawaf Al-Dhufairy
Director: Shahad Ameen
Rating: 3/5
Brief scores:
Pakistan (1st innings) 181: Babar 71; Olivier 6-37
South Africa (1st innings) 223: Bavuma 53; Amir 4-62
Pakistan (2nd innings) 190: Masood 65, Imam 57; Olivier 5-59
The Birkin bag is made by Hermès.
It is named after actress and singer Jane Birkin
Noone from Hermès will go on record to say how much a new Birkin costs, how long one would have to wait to get one, and how many bags are actually made each year.
Iran's dirty tricks to dodge sanctions
There’s increased scrutiny on the tricks being used to keep commodities flowing to and from blacklisted countries. Here’s a description of how some work.
1 Going Dark
A common method to transport Iranian oil with stealth is to turn off the Automatic Identification System, an electronic device that pinpoints a ship’s location. Known as going dark, a vessel flicks the switch before berthing and typically reappears days later, masking the location of its load or discharge port.
2. Ship-to-Ship Transfers
A first vessel will take its clandestine cargo away from the country in question before transferring it to a waiting ship, all of this happening out of sight. The vessels will then sail in different directions. For about a third of Iranian exports, more than one tanker typically handles a load before it’s delivered to its final destination, analysts say.
3. Fake Destinations
Signaling the wrong destination to load or unload is another technique. Ships that intend to take cargo from Iran may indicate their loading ports in sanction-free places like Iraq. Ships can keep changing their destinations and end up not berthing at any of them.
4. Rebranded Barrels
Iranian barrels can also be rebranded as oil from a nation free from sanctions such as Iraq. The countries share fields along their border and the crude has similar characteristics. Oil from these deposits can be trucked out to another port and documents forged to hide Iran as the origin.
* Bloomberg
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
UAE squad
Esha Oza (captain), Al Maseera Jahangir, Emily Thomas, Heena Hotchandani, Indhuja Nandakumar, Katie Thompson, Lavanya Keny, Mehak Thakur, Michelle Botha, Rinitha Rajith, Samaira Dharnidharka, Siya Gokhale, Sashikala Silva, Suraksha Kotte, Theertha Satish (wicketkeeper) Udeni Kuruppuarachchige, Vaishnave Mahesh.
UAE tour of Zimbabwe
All matches in Bulawayo
Friday, Sept 26 – First ODI
Sunday, Sept 28 – Second ODI
Tuesday, Sept 30 – Third ODI
Thursday, Oct 2 – Fourth ODI
Sunday, Oct 5 – First T20I
Monday, Oct 6 – Second T20I
Disclaimer
Director: Alfonso Cuaron
Stars: Cate Blanchett, Kevin Kline, Lesley Manville
Rating: 4/5
'Nope'
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The%20Sandman
%3Cp%3ECreators%3A%20Neil%20Gaiman%2C%20David%20Goyer%2C%20Allan%20Heinberg%3C%2Fp%3E%0A%3Cp%3EStars%3A%20Tom%20Sturridge%2C%20Boyd%20Holbrook%2C%20Jenna%20Coleman%20and%20Gwendoline%20Christie%3C%2Fp%3E%0A%3Cp%3ERating%3A%204%2F5%3C%2Fp%3E%0A
APPLE IPAD MINI (A17 PRO)
Display: 21cm Liquid Retina Display, 2266 x 1488, 326ppi, 500 nits
Chip: Apple A17 Pro, 6-core CPU, 5-core GPU, 16-core Neural Engine
Storage: 128/256/512GB
Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4
Front camera: 12MP ultra-wide, f/2.4, Smart HDR 4, full-HD @ 25/30/60fps
Biometrics: Touch ID, Face ID
Colours: Blue, purple, space grey, starlight
In the box: iPad mini, USB-C cable, 20W USB-C power adapter
Price: From Dh2,099
VEZEETA PROFILE
Date started: 2012
Founder: Amir Barsoum
Based: Dubai, UAE
Sector: HealthTech / MedTech
Size: 300 employees
Funding: $22.6 million (as of September 2018)
Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC
Sholto Byrnes on Myanmar politics
French business
France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.
Europe’s rearming plan
- Suspend strict budget rules to allow member countries to step up defence spending
- Create new "instrument" providing €150 billion of loans to member countries for defence investment
- Use the existing EU budget to direct more funds towards defence-related investment
- Engage the bloc's European Investment Bank to drop limits on lending to defence firms
- Create a savings and investments union to help companies access capital
Dubai World Cup factbox
Most wins by a trainer: Godolphin’s Saeed bin Suroor(9)
Most wins by a jockey: Jerry Bailey(4)
Most wins by an owner: Godolphin(9)
Most wins by a horse: Godolphin’s Thunder Snow(2)
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
Ferrari
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Pharaoh's curse
British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.
COMPANY PROFILE
Name: Rain Management
Year started: 2017
Based: Bahrain
Employees: 100-120
Amount raised: $2.5m from BitMex Ventures and Blockwater. Another $6m raised from MEVP, Coinbase, Vision Ventures, CMT, Jimco and DIFC Fintech Fund
Muslim Council of Elders condemns terrorism on religious sites
The Muslim Council of Elders has strongly condemned the criminal attacks on religious sites in Britain.
It firmly rejected “acts of terrorism, which constitute a flagrant violation of the sanctity of houses of worship”.
“Attacking places of worship is a form of terrorism and extremism that threatens peace and stability within societies,” it said.
The council also warned against the rise of hate speech, racism, extremism and Islamophobia. It urged the international community to join efforts to promote tolerance and peaceful coexistence.
ENGLAND%20SQUAD
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PROFILE
Name: Enhance Fitness
Year started: 2018
Based: UAE
Employees: 200
Amount raised: $3m
Investors: Global Ventures and angel investors
