Dubai is turning its flagship utility into an export business. The launch of DEWA International as a wholly owned subsidiary signals a calibrated push aimed at capturing part of an expected US$20 trillion global energy and water infrastructure spend by 2035.
Announced by Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Supreme Council of Energy, in the presence of Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA), the move formalises Dubai’s ambition to monetise a decade of power and water sector reform, project delivery and tariff optimisation beyond its home market. The event took place at Al Shera’a, DEWA’s new headquarters, underlining the strategic nature of the shift from domestic champion to international developer.
From benchmark utility to global developer
DEWA International has been set up as an independent, wholly owned subsidiary mandated to develop both conventional and clean energy projects worldwide. It will focus on power and water schemes across global markets, working with governments, developers, investors and financial institutions to structure joint ventures and bankable project vehicles.
The new platform aims to replicate core elements of Dubai’s model: long-term planning, integrated power and water system design, and a heavy use of public–private partnership frameworks, especially the Independent Water and Power Producer structure. That model helped DEWA attract international capital, share risk with sponsors and lenders, and secure some of the most competitive tariffs in large-scale solar.
DEWA plans to bring to market its full capabilities across generation, transmission, distribution, customer services, photovoltaic solar, concentrated solar power, hydropower and data centres. The authority has also embedded artificial intelligence and Fourth Industrial Revolution technologies across its value chain, which now form part of the export offer. For host governments and financiers, the pitch is straightforward: a tested template that links system planning, digital operations, and private capital mobilisation for both energy transition and water resilience.
Sheikh Ahmed framed the launch as a strategic extension of Dubai’s role as an international benchmark in energy, water, sustainability and digital transformation. For policymakers in emerging markets, particularly those facing rapid demand growth and constrained public balance sheets, the DEWA International expansion offers a partner that has operated at scale in a high-growth, high-reliability environment.
Balance sheet strength and pipeline logic
Financially, DEWA is entering this phase from a position of strength. In 2024, it reported revenue of AED 32.8 billion and net profit after tax of AED 9.06 billion. That profit pool and cash generation give management room to commit equity into overseas projects while keeping leverage at prudent levels. Saeed Mohammed Al Tayer highlighted that DEWA now ranks first globally in 13 key utility performance indicators and two regional benchmarks across generation, transmission, distribution and customer service. These metrics support the investment case for counterparties that want operationally strong offtakers and project sponsors.
DEWA International has already begun to identify projects, build a pipeline and expand its partnership networks. The expansion strategy is phased. The company will first prioritise markets where DEWA already has relationships, sector knowledge and geographic proximity, before moving into more distant jurisdictions as experience and risk appetite grow. That creates a natural ramp-up period during which it can refine its investment criteria, risk allocation frameworks and governance standards in cross-border settings.
For investors, the DEWA International expansion opens a new channel into large-scale, de-risked infrastructure aligned with both energy security and decarbonisation. The platform offers exposure to long-duration, often contracted assets backed by a sponsor with strong financials and a track record in delivering complex projects such as the Mohammed bin Rashid Al Maktoum Solar Park. As global utilities, sovereign funds and infrastructure managers search for credible partners in emerging markets, DEWA’s move positions Dubai not just as a project host but as a project exporter.
Over the next few years, investors and policymakers should watch where DEWA International signs its first major deals, how it prices risk versus incumbent global utilities, and the extent to which it can standardise its model across diverse regulatory systems while preserving returns. Read the original report via Gulf News.
