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United Arab Emirates : Dewa invites consulting companies to tender for $27bn green fund.

Dubai's Electricity and Water Authority (Dewa) has invited bids from consulting companies for advisory and regulatory development services for its proposed $27bn green fund.

In order to offer low-cost loans to investors in Dubai's clean energy industry, UAE Vice President and Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum launched the fund in November to provide financial tools for clean energy investors.

It forms part of a wider green energy investment programme designed to establish the Emirate as a global hub for the green economy.

Dewa will accept bids until the end of February.

Due to the high irradiance levels in the Gulf region, the region is attractive for utility scale and rooftop solar investments that are already taking root in most Middle East countries.

Dubai alone aims to generate 75% of its total power production from clean sources by 2050 and boast the smallest carbon footprint for a city in the world.

Sources of energy will include natural gas, solar, clean coal and nuclear.

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Publication:Mena Report
Geographic Code:7UNIT
Date:Feb 1, 2016
Words:184
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