Sector: Energy
Country: UAE
Dubai Electricity and Water Authority (DEWA) was established on January 1, 1992 by a decree from the late Sheikh Maktoum bin Rashid Al Maktoum, merging the Dubai Electricity Company and Dubai Water Department, both founded in 1959 by the late Sheikh Rashid bin Saeed Al Maktoum. Since then, DEWA has grown into one of the world’s leading utilities, delivering electricity and water to more than 1.27 million customer accounts in Dubai with high standards of efficiency, reliability and availability.
In April 2022, DEWA listed on the Dubai Financial Market, becoming its largest company with a valuation of Dhs124bn ($33.8bn). The IPO saw ine billion shares — 18 per cent of its capital — offered to investors.In 2024, DEWA reported full-year revenue of Dhs30.98bn, EBITDA of Dhs15.73bn, and net profit after tax of Dhs7.23bn. That same year, electricity demand rose by 5.4 per cent and water demand by 5.1 per cent.
By 2024, DEWA’s installed generation capacity stood at 17,179MW, of which 3,060MW came from clean energy through Mohammed bin Rashid Al Maktoum Solar Park. Customer accounts grew 4.85 per cent year-onyear, reflecting the emirate’s continued expansion. In May 2025, DEWA was added to the MSCI Emerging Markets Index, reinforcing its standing with global investors. DEWA’s growth is driven by rising demand in a city that served 3.864 million residents and over 4.7 million daytime users at the end of 2024 — figures projected to rise to 5.8 million and 7.8 million by 2040.
DEWA leads globally in 12 key performance indicators (KPIs), including electricity transmission and distribution losses which are just 2 per cent, compared to 6–7 per cent in Europe and the US, while water losses stand at 4.5 per cent versus 15 per cent in North America. Dubai also set a global record in lowest electricity customer minutes lost, with just 0.94 minutes per customer annually compared with 15 minutes in leading European companies. DEWA continues to set global benchmarks for smart, sustainable utility leadership.
