Monday 20 May 2024

Dewa, Acwa announce financial close of $920m Hassyan desal project

DUBAI, April 18, 2024

Dubai Electricity and Water Authority (Dewa) and Saudi-based Acwa Power have announced the financial closing of the 180 million imperial gallons per day (MIGD) seawater reverse osmosis (RO) desalination project in Hassyan. 
This project is a key component of Dewa’s strategy to enhance the emirate’s water desalination capacity. It is the world’s largest project of its kind using RO technology under the Independent Water Producer (IWP) model, with an investment of AED3.38 billion ($920 million).
On the key achievement, Saeed Mohammed Al Tayer, the MD & CEO of Dewa said: "We are committed to developing an advanced and integrated energy and water infrastructure that aligns with Dubai’s progressive development and caters to the increasing demand for electricity and water services while meeting the requirements of comprehensive sustainable development plans and the Dubai Urban Plan 2040."
"This initiative supports Dubai’s Integrated Water Resources Management Strategy 2030, which emphasises resource optimisation and the adoption of cutting-edge technologies and innovative solutions," he added.
Mohammad Abunayyan, the Founder and Chairman of Acwa Power, expressed delight at joining forces with Dewa to finalise the financing of this ambitious project, which will play a crucial role in Dubai’s ambitious plan to produce 100% of its desalinated water by 2030 from a clean energy and waste heat mix. 
"This partnership serves as a model for fruitful projects that we operate and manage in cooperation with Dewa, as part of our commitment to contributing to Dubai’s Clean Energy Strategy 2050," stated Abunayyan.
"We have set a world record for the lowest tariff for desalinated water as well as the most energy-efficient reverse osmosis technology for the first plant in the world that is fully powered by renewable energy at the Hassyan complex in Dubai," he added.-TradeArabia News Service


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