Isramart : Dewa planning to launch carbon trade initiative

Isramart news:
Dubai: The Dubai Electricity and Water Authority (Dewa) will soon launch a carbon trade initiative based on carbon credits, bringing best practice into the region and contributing to a sustainable environment, a top official said.

“Dewa will launch a carbon trade initiative (sell carbon) in an attempt to preserve the environment,” Saeed Mohammad Al Tayer, managing director and chief executive of Dewa told Gulf News.

He added that this would enhance the energy efficiency of the power generation facilities.

“This initiative will help reduce carbon emissions in Dubai. Although it is difficult to achieve a balance between preserving energy and economic development, it is also an important issue for us,” he said.

In line with the vision of His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, of endorsing environment-friendly initiatives for all the buildings in Dubai from January 1, 2008, Dewa is pursuing a carbon-neutral economy in Dubai and strengthening its commitment and contribution to preserving the environment.

Referring to the Kyoto protocol, he said even the United States did not sign the Kyoto protocol because of the high costs involved.

In Dubai, however, the government’s vision of controlling carbon emissions has been given a top priority that will make the UAE a much more environment-friendly country.

“Although the cost of identifying UAE carbon credit assets across all its operations and projects is very high and requires up-to-date technologies… it is our ultimate drive to accomplish sustainable development,” he added.

He added that Dewa was following the Clean Development Mechanism (CDM) methodology process to reduce carbon emissions across its power plants.

Dewa is achieving another milestone in its pursuit of implementing international best practice in the field of environment through the identification of its carbon credit assets and development of a portfolio of carbon emission reduction projects under the Kyoto Protocol’s CDM of the United Nations.

Dubai Jebel Ali Power Plant, slated to be one of the world’s largest, will be ready by the end of 2010, Saeed Mohammad Al Tayer, managing director and chief executive of the Dubai Electricity and Water Authority (Dewa), said.

“The work in Jebel Ali project is going on hand in hand [with] the power demand in Dubai and will be finalised by the end of next year,” he said.

“The mega power project is worth Dh10 billion. The project will be implemented through several phases. In the coming five months we will commission around 600 megawatts [of] output,” he added.

The project will add 1,500MW of power and desalination of 100 to 120 million imperial gallons per day (MIGD), in phases.

The project is meant to serve the increase in power and desalination demand due to population growth and development projects undertaken across the UAE.

Hassyan 1 (formerly known as P2) and Hassyan 2 (formerly known as P1) constitute the first phase of the Hassyan complex.

Originally, Dewa planned to construct the two plants simultaneously. However, due to the numerous delays and economic circumstances, each plant will be built separately.