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Dubai Electricity and Water Authority (DEWA) has invited consultants to submit proposals for running the emirate’s Dh100bn ($27.23bn) Dubai Green Fund, announced in November as a means of encouraging “green investments and green growth.”
DEWA says that the winning bidder will develop a strategy, structure, execution plan and governance framework for the fund, which will “provide financial tools for investors in clean energy.” The fund will be run “according to international best practices and in light of Dubai’s specific needs.”
While a number of Middle Eastern governments have put forward plans to develop renewable energy sources, as a means of freeing up hydrocarbons for export and/or domestic use while keeping pace with rising electricity demand, Dubai is leading the way in solar developments.
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