Dubai Electricity and Water Authority (DEWA) has announced its record-breaking financial results for 2024, reporting an annual revenue of AED 30.98 billion and an EBITDA of AED 15.70 billion. Net profit after tax stood at AED 7.24 billion. The quarterly results for Q4 2024 also reflected strong performance, with revenues reaching AED 7.45 billion and net profit hitting AED 1.76 billion.

According to the Government of Dubai Media Office, HE Saeed Mohammed Al Tayer, MD & CEO of DEWA, attributed the success to the leadership’s vision for sustainability and excellence, as reported by the Government of Dubai Media Office. He highlighted that DEWA’s long-term plans are aligned with Dubai’s 2050 Net Zero carbon target. Al Tayer also noted that 17.8% of DEWA’s total power generation capacity now comes from clean energy sources.

DEWA’s operational milestones for 2024 include generating 59.19 TWh of power, a 5.42% increase compared to 2023. Clean energy generation rose by 7.47%, accounting for 11.2% of the total power produced. Water desalination also grew by 5%, reaching 150.48 billion imperial gallons.

The company added 58,810 new customer accounts in 2024, taking the total to 1.27 million, a rise of 4.85% from the previous year. During Q4 2024 alone, DEWA added nearly 20,000 accounts and saw clean energy production grow by 12.83% compared to Q4 2023.

Looking ahead, DEWA aims to expand its installed generation capacity to 20 GW by 2030, with 27% of it sourced from clean energy. On the water desalination front, an additional 240 million imperial gallons per day (MIGD) capacity will be added, bringing the total to 735 MIGD by the same year.

DEWA also announced plans to distribute AED 6.2 billion in annual dividends to shareholders over five years, starting from October 2022. A dividend of AED 3.1 billion for H2 2024 is scheduled for April 2025, pending shareholder approval.

The utility provider achieved notable global recognition in 2024, including six awards from the British Safety Council and first-place rankings in 12 key performance indicators. Additionally, DEWA became the first government entity in the UAE to earn ISO certification for trust in artificial intelligence.

Through these accomplishments, DEWA continues to reinforce its leadership in sustainability, innovation, and customer service.