Saeed Al Tayer, the forum member and CEO of Dubai Electricity and Water Authority (DEWA), said that the company expects to record strong results in the coming years, after the success of the DEWA's listing in The Dubai market, where he expected the profits of "Dewa" to reach 7.3 billion dirhams during 2022, noting that the disclosure of data for the first quarter will take place next May.
Al Tayer added, in statements to CNBC Arabia, that the authority's installed production capacity exceeds 13,400 megawatts and 490 million gallons of desalinated water. Strengthening its capabilities through several projects, which included the launch of the “DiwaSat” satellite in January with the aim of using space technologies to enhance the operational effectiveness of controlling the electricity and water network.
He continued, "DEWA aims to fully operate its production capacity through clean energy by 2050."
On cash distributions, Al Tayer indicated that the total amount for the years 2022 and 2023 will reach 6.2 billion dirhams, adding that cash flows during this year will reach 13.6 billion dirhams. .
It is worth noting that by listing DEWA, it has become the largest company listed on the Dubai market with a market value of 124 billion dirhams ($33.8 billion) based on its offer price. Final set at AED 2.48 per share.
