Dewa to list on Dubai Financial Market
State utility provider Dubai Electricity & Water Authority (Dewa) is planning to list on the local stock exchange in the coming months, the emirate’s Deputy Prime Minister and Minister of Finance, Sheikh Maktoum bin Mohammed, announced on 2 November
State utility provider Dubai Electricity & Water Authority (Dewa) is planning to list on the local stock exchange in the coming months, the emirate’s Deputy Prime Minister and Minister of Finance, Sheikh Maktoum bin Mohammed, announced on 2 November.
“We announce today our intention to list the Dubai Electricity and Water Authority in the Dubai Financial Market in the coming months," Sheikh Maktoum bin Mohammed said in a tweet.
"Dubai Electricity and Water Authority (Dewa) represents one of Dubai's development hubs, and investing in it is an investment in Dubai's future. We will consider, during the listing, that it be phased, taking into account the size of the huge assets that Dewa includes and its position within the Dubai economy."
Dewa is one of 10 government and state-owned companies that Dubai is planning to list on the Dubai Financial Market (DFM) under its aim to increase the DFM’s size to AED3 trillion, ($816.7bn).
Dewa has a total power generation capacity of 12.3GW and a desalination capacity of 470 million imperial gallons a day (MIGD). The utility company has also developed one of the largest renewable energy sectors in the Middle East, with more than 1.5GW of clean energy currently in operation. The emirate is planning to have developed 5GW of solar at the Mohammed bin Rashid al-Maktoum Solar Park by 2030.
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