DEWA Reports Record Quarterly Revenue and Profit as Clean Energy Output Reaches New High

Dubai | EcoPulse24

DEWA, Dubai electricity, clean energy, utilities, DFM, UAE

Dubai Electricity and Water Authority (DEWA) reported record financial and operational results for the first quarter of 2026, driven by rising electricity and water demand across Dubai alongside continued expansion in clean energy production and infrastructure investment.

The Dubai-listed utility company reported quarterly revenue of AED 6.45 billion during the first three months of 2026, up 8.18% compared with the same period last year. EBITDA rose 18.44% to AED 2.88 billion, while operating profit surged 53.58% to AED 1.29 billion.

Net profit climbed to AED 940 million during the quarter, marking an increase of 89.87% year-on-year, while operating cash flow reached AED 3.89 billion.

DEWA said the first quarter marked the strongest opening quarter in the authority’s history across revenue, operating profit, EBITDA and net earnings.

Saeed Mohammed Al Tayer, Vice Chairman and Managing Director & CEO of DEWA, said the performance reflects Dubai’s economic strength, growing demand for electricity, water and cooling services, and the authority’s continued focus on operational excellence, sustainability and long-term shareholder value.

Clean Energy Production Reaches Record Levels

Operational data showed DEWA’s total electricity generation increased to a record 11.09 terawatt-hours during the first quarter, up 5.65% compared with the same period of 2025.

Clean energy production also reached a record quarterly level of 2.06 terawatt-hours, representing 18.5% of total electricity generated during the quarter.

In the water segment, desalinated water production rose 5.51% year-on-year to 37.57 billion imperial gallons. The authority additionally expanded desalinated water capacity by 60 million gallons per day following the commissioning of Unit A at the Hassyan seawater reverse osmosis desalination plant.

Total desalinated water production capacity reached 555 million gallons per day, with DEWA expecting to add another 120 million gallons per day during 2026 through reverse osmosis projects.

Infrastructure Expansion Continues

By the end of March 2026, DEWA’s installed generation capacity reached 17,979 megawatts, including 3,860 megawatts from clean energy sources, representing 21.5% of Dubai’s total energy mix.

During the quarter, the authority commissioned two 132-kilovolt substations and 400 substations operating at 6.6-11 kilovolts as part of Dubai’s broader electricity infrastructure expansion program.

The number of EV charging points also increased to 2,223 by the end of the quarter, including DEWA Green Charger stations and charging points operated by licensed independent charging operators in partnership with public and private sector entities.

Customer Base and Dividend Policy

DEWA added 19,803 customer accounts during the first quarter alone, while total customer accounts increased by 65,086 over the past 12 months, bringing the total customer base to approximately 1.347 million accounts, representing annual growth of 5.08%.

The authority also reaffirmed its dividend policy targeting annual distributions of at least AED 6.2 billion during the first five years beginning October 2022, with semiannual payments scheduled in April and October.

DEWA distributed AED 3.1 billion in dividends during April 2026 for the second half of 2025 and expects to distribute another AED 3.1 billion in October 2026 for the first half of this year, subject to approvals.

Key DEWA Q1 2026 Results

EcoPulse24 Analysis

DEWA’s latest results highlight the accelerating structural transformation underway in Dubai’s infrastructure and energy landscape as the emirate continues expanding its clean energy footprint alongside rapid economic and population growth.

The significance of the results extends beyond strong revenue and profit growth.

What stands out most is the increasing contribution of clean energy generation within Dubai’s electricity system while demand for electricity and desalinated water continues rising simultaneously.

That dual expansion reflects how Dubai is attempting to scale economic growth while progressively shifting toward lower-emission infrastructure and energy diversification.

The continued buildout of EV charging infrastructure additionally signals the UAE’s broader strategy to accelerate transport electrification and support long-term net-zero objectives.

At the same time, DEWA’s stable cash flow profile and recurring dividend distributions reinforce the defensive nature of regulated utility assets during periods of geopolitical uncertainty and energy market volatility.

More broadly, the results position DEWA as one of the Gulf region’s most strategically important infrastructure operators, sitting at the center of Dubai’s long-term urban expansion, energy transition and sustainability agenda.