DEWA and World Bank Group co-host CSP Markets, System Value, and Financing workshop

DEWA and World Bank Group co-host CSP Markets, System Value, and Financing workshop

DUBAI, 26th February, 2018 (WAM) -- Dubai Electricity and Water Authority, DEWA, and the World Bank Group co-hosted a workshop on Concentrated Solar Power (CSP) Markets, System Value, and Financing.

Held as part World Bank’s Clean Technology Fund (CTF)-supported MENA CSP Knowledge and Innovation Programme (KIP), the workshop explained how Dubai is successfully integrating CSP into its power system at a market-changing drop in price.

Participants exchange expertise and best practices related to CSP technologies and financing, and how it contributes to greening energy systems alongside other renewables.

Saeed Mohammad Al Tayer, MD and CEO of DEWA, inaugurated the workshop at Hyatt Regency Dubai Creek Heights hotel.

Ahmed Buti Al Muhairbi, Secretary-General of the Dubai Supreme Council of Energy, Erik Fernstrom, Energy and Extractives Global Practice Manager at the World Bank, and DEWA’s Executive Vice Presidents and Vice Presidents were present. The workshop was also attended by officials from the World Bank, experts and specialists, and representatives of utilities, developers, and investors from around the world.

In his keynote speech, Al Tayer thanked the World Bank Group for organising this workshop in Dubai.

"The main challenges to implementing clean energy strategies are: funds and prices, the efficiency and intermittency of renewable energy, regulatory and legislative frameworks, engagement with the private sector, and capacity building. In Dubai, we have dealt with these challenges through the Dubai Clean Energy Strategy 2050 to provide 75% of Dubai’s total power output from clean energy by 2050, and its 5 main pillars of infrastructure, legislation, funding, building capacities and skills, and an environmentally-friendly energy mix," noted Al Tayer.

He said, "In Dubai, we have a holistic approach to the energy sector that has contributed to the UAE, represented by DEWA, being ranked first in the world for getting electricity according to the World Bank’s Doing Business 2018 report. In 2017, DEWA achieved the lowest Customer Minutes Lost (CML) worldwide at 2.68 minutes. The major projects launched by DEWA have contributed to reducing the cost of solar projects globally.

"This workshop reflects the accelerating pace of energy transition in the Middle East and North Africa and the desire to develop a whole range of clean and competitive clean energy solutions to underpin economic growth. DEWA has proven time and time again its ability to innovate and lead both in technology early adoption as well as scaling up project development with remarkable operational effectiveness and efficiency," said Fernstrom.

Al Tayer also held meeting with World Bank delegation which included Fernstrom, Jonathan Sinton, Head of the MENA CSP KIP project, Dana Younger, Chief Renewable Energy Specialist, Waleed Alsuraih, Lead Energy Specialist, and Monyl Toga, Energy Specialist. The meeting was attended by Al Muhairbi and DEWA’s Executive Vice Presidents.