Dubai utility company DEWA’s revenue increased by 2.8% in the first quarter, reaching $1.6 billion, thanks to strong operational growth
Dubai Electricity and Water Authority (DEWA) reported a record revenue of about $1.63 billion (AED 6 billion) for the first quarter of 2025, which is a 2.8% increase compared to the same period last year.
DEWA Q1 Results
In the first quarter, DEWA made a net profit of $135 million (AED 496 million) and an operating profit of $228.1 million (AED 838 million), according to a report released on the Dubai Financial Market (DFM) on Monday. Earnings before interest, taxes, depreciation, and amortization (EBITDA) reached $653.4 million (AED 2.4 billion).
The company’s strong performance in Q1 was helped by a record net cash flow of $1 billion (AED 3.8 billion) from operations, up by 17.9% from $898.4 million (AED 3.3 billion) last year.
As of March, DEWA had $2.2 billion (AED 8.2 billion) in cash, an increase of $571.7 million (AED 2.1 billion) compared to the end of 2024.
DEWA paid $844 million (AED 3.1 billion) in dividends for the second half of 2024 and plans to pay another $844 million (AED 3.1 billion) in the first half of 2025 in October, pending approval.
Electricity generation reached a record of 10.50 terawatt-hours (TWh), with clean energy contributing 1.86 TWh, which is 17.7% of the total. Water desalination increased by 4.6% compared to last year, reaching a record 35.61 billion imperial gallons (BIG).
DEWA’s total power generation capacity is 17,579 megawatts (MW), including 3,460 MW from clean energy. The company is still on track to reach its goal of producing 34% of its energy from clean sources by 2030.
Solar Energy Expansion
In March, DEWA invited international developers to bid for the seventh phase of the Mohammed bin Rashid Al Maktoum Solar Park, which is the largest solar park in the world.
This phase is expected to generate 4.5 TWh of electricity every year. DEWA plans to increase the solar park’s production capacity from 5,000 MW to 7,260 MW, which will increase clean energy in Dubai’s energy mix from 27% to 34% by 2030.
The seventh phase will have 1,600 MW capacity, expandable to 2,000 MW. It will use photovoltaic solar panels and a 1,000 MW battery energy storage system for six hours. After this expansion, the solar park will have a total storage capacity of 6,000 megawatt-hours (MWh), making it one of the largest solar and storage projects in the world.
The sixth phase is about 53% complete, with 600 MW out of the total 1,800 MW already in operation.
Published: 14th May 2025
For more article like this please follow our social media Facebook, Linkedin & Instagram
Also Read:
Trump’s Gulf Visit to Boost US-GCC Trade with Saudi, UAE, Qatar
Saudi Awwal Bank to issue dollar Green Sukuk in $5B plan
Egypt’s inflation rose to 13.5% in April due to fuel hikes
