Dubai utility Dewa announced on 18 October that it has completed repayment of its last outstanding bond. With repayment of a $1.5bn bond issued in 2010, Dewa now has “zero debt on its books.”

To finance future power and desalination expansions, Dewa will rely increasingly on the independent power and water projects model (IPP/IWP), which it has previously used to finance the MBR Solar Park, under development 50km south of Dubai city. (CONTINUED - 279 WORDS)