Home News Dubai: Dewa reports Dh3.3 billion profit during first half of 2022

Dubai: Dewa reports Dh3.3 billion profit during first half of 2022

by Dubai Forum
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Gains up by 33% throughout duration as power need enhances in emirate

The Dubai Power as well as Water Authority (Dewa) on Thursday revealed Dh2.61 billion web revenue for the 2nd quarter of 2022, up by 37 percent year-on-year as power need boosted in the emirate.

Its 2nd quarter earnings increased 14 percent to over Dh7 billion.

The energy providers reported Dh3.3 billion web revenue for the initial fifty percent of 2022, a rise of 33 percent, while earnings leapt 15 percent to Dh12.08 billion throughout the January-June duration.

Power need in Dubai throughout the initial fifty percent of 2022 boosted by 6.3 percent contrasted to the very same duration in 2021, getting to 23.27 TWh contrasted to 21.9 TWh in the initial fifty percent of 2021. Virtually 10 percent of this generation is from solar. In a similar way, water need in the very same duration expanded by 6.4 percent.

Dewa’s peak need in the initial fifty percent of 2022 was 9.4 GW, which stands for a 7 percent boost over the very same duration of in 2014. By the end of the 2nd quarter, Dewa offered 1,126,121 consumers, standing for a 5.12 percent boost from the very same time in 2014.

Empower, Dewa’s majority-owned subsidiary, taped Dh1.154 billion earnings as well as Dh432 million web revenue in H1 2022, standing for a 16 percent as well as 11 percent boost, specifically, versus the very same duration in the in 2014.

” Proceeded concentrate on task distribution, technology as well as increasing our electronic change has actually strengthened our outcomes via the initial 6 months of 2022. We keep the considerable ability to release resources via a regimented financial investment method with a concentrate on fulfilling the ambitions of the Emirate of Dubai,” stated Saeed Mohammed Al Tayer, taking care of supervisor as well as chief executive officer of Dewa.

In the initial fifty percent of 2022, Dewa’s set up ability boosted by 700 megawatts (MW) to 14,117 MW. This consists of 600 MW from the Hassyan Power Facility, which operates on gas as well as 100 MW from the fifth stage of the Mohammed container Rashid Al Maktoum Solar Park, which operates on solar (PV) photovoltaic panels.

By June 2022, Dewa’s 250 MW pumped-storage hydroelectric power plant, which is being created in Hatta, was 44 percent full. It will certainly have a storage space ability of 1,500 megawatt-hours as well as a lifetime of approximately 80 years. This is the initial power plant of its kind in the GCC.

Furthermore, Dewa attained 85 percent conclusion of its 120 MIG Nakhali water tank, 84 percent conclusion of its 60 MIG Lusaily Tank, as well as 11% conclusion of its 120 MIG Hassyan Tank.

Better, Dewa additionally appointed 287 (11kV) substations in Dubai in the initial fifty percent of 2022. There are currently 78 (33kV) substations in solution as well as 42,093 Tool Voltage (11kV) substations in the business’s transmission as well as circulation network. The business additionally appointed 1 (400kV) substation as well as 10 (132kV) substations, bringing the total amount to 26 (400kV) substations as well as 329 (132kV) substations. DEWA additionally finished laying 100 Kilometres of 132 kV cord as well as 802 Kilometres of tool voltage cord.

– waheedabbas@khaleejtimes.com

DF

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