Dubai Electricity and Water Authority (Dewa) has connected more than 200 buildings with photovoltaic (PV) installations as part of its Shams Dubai initiative, which is aimed at boosting the use of PV panels on rooftops to generate electricity.
State-owned Dubai utility Dewa drew hefty demand of $17 billion for a $2 billion two-tranche bond it launched on Thursday, helped by juicy yields and improved sentiment towards the debt-laden emirate.
Dubai Electricity and Water Authority'
Dubai Electricity and Water Authority (Dewa) has placed a $1 billion, five-year bond, the first bond from Dubai since its debt troubles emerged.
The bond will pay a semi-annual coupon of 8.5 percent, Dewa said.
The Dubai Electricity and Water Authority (Dewa) has budgeted 6.42 billion dirhams ($1.75 billion) to complete ongoing projects and begin new ones, the utility's chief executive, Saeed Mohammed Al-Tayer, was quoted as saying.
The Dewa fund
State-owned utility Dubai Electricity & Water Autority (Dewa) rejected a report that credit downgrades of government-owned firms could lead to an accelerated payment clause for $2 billion of its debt.
'This is incorrect, people are