Dubai opens consultancy tender for $27bn green fund

31/01/2016 04:33 AST

Dubai’s Electricity and Water Authority (DEWA) said it was calling on consulting firms to tender for advisory and regulatory development services for the emirate’s planned AED100 billion ($27 billion) clean energy fund.

The “Dubai Green Fund,” announced in November, will provide low-cost loans for investors in Dubai’s clean energy sector as part of wider green energy investment program in the desert city state of 2.4 million people.

Dubai uses large amounts of energy to cool buildings and public spaces and to provide water through energy-intensive desalination plants. Offers for the tender will be accepted until the end of February, the official news agency WAM reported, citing DEWA.

Dubai wants to obtain 7 percent of its energy from lower-emissions sources by 2020, raising that to 25 percent in 2030 and 75 percent in 2050. Energy sources will include natural gas, solar, clean coal and nuclear. The UAE plans to start up its first nuclear plant next year


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