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DEWA wins two CFI.co awards from Capital Finance International
(13 September 2016)

 

The Dubai Electricity and Water Authority has won two CFI.co 2016 awards with Saeed Mohammed Al Tayer, MD & CEO of DEWA, winning the Outstanding Contribution to Local Employment - GCC 2016, and DEWA winning Best In-house Corporate Finance Team - GCC 2016. 

Al Tayer won the award for his role in achieving the objectives of the UAE National Agenda, and the development of the country’s capabilities. It was also for his work in achieving the objectives of the UAE Vision 2021, to make it one of the best nations in the world by 2021, and for the Dubai Plan 2021 to transform the emirate into a place with empowered, creative and happy people. 

DEWA supports the recruitment and development of national talent in specialised roles, while focussing on providing employees with the skills that make them efficient contributors to their line of work. The authority has taken large strides in employing UAE nationals, and has launched a scholarship programme that enables them to study renewable energy at home and abroad. 

The DEWA Academy has also signed agreements with several international institutions to educate its nationals in Europe and the United States (US). This supports the authority’s efforts to exchange best practices and experiences, and enhance institutional excellence. 

It won the award for Best In-house Corporate Finance Team GCC 2016 for its efforts to develop robust financial governance and achieving financial stability, while working to rationalise expenditure and revenue development. To successfully manage financial resources, DEWA worked to enhance the efficiency and effectiveness of all production, transmission, and distribution operations. 

DEWA has more than 10,000 employees, who work to ensure the highest levels of efficiency, safety, and quality. The authority’s list of achievements have contributed to its leading position globally. It currently provides services to more than 760,000 customers. Its results have surpassed those of other top American and European companies, by reducing losses in transmission and distribution of electricity to 3.3 percent, compared to 6 to 7 percent by utilities in Europe and the US. 

Water network losses have been reduced to 8.2 percent, compared to average losses of 15 percent in the US, placing the UAE at the forefront for reducing water losses. DEWA also managed to achieve the best international results for power outages per customer per year, which stood at interruption rates of 3.87 minutes per year, bettering the average of 15 minutes by European companies. 

The UAE, represented by DEWA, was ranked first in the region and fourth globally for the third consecutive year for generating power, according to the World Bank’s Doing Business Report 2016. 

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