DEWA invites proposals for Dhs 100bn Dubai clean energy fund

Dubai Electricity and Water Authority has requested proposals for consultants to develop the strategy, structure, execution and governance framework for the Dhs 100bn Dubai Green Fund.

The fund, which will provide financial tools for clean energy investors, was launched by UAE Vice President and Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum in November to establish the emirate as a global hub for the green economy.

Proposals are expected until the end of February this year.

“This supports the Dubai Plan 2021 to make Dubai sustainable with its resources, whose environmental resources are clean, healthy, and sustainable,” said DEWA managing director and chief executive Saeed Mohammed Al Tayer.

Dubai plans to produce 75 per cent of its total power output from clean sources by 2050 and boast the smallest carbon footprint for a city in the world.

The fund is at the centre of the emirate’s clean energy strategy, which will see the creation of a new free zone aimed to attract research and development companies.

The emirate also plans to increase the capacity of Mohammed bin Rashid Al Maktoum Solar Park from 3,000MW to 5,000MW and equip every roof with solar panels by 2030.