Dubai seeks consultants for US$27B Dubai Green Fund

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Dubai seeks consultants for US$27B Dubai Green Fund

Dubai Electricity and Water Authority (DEWA) has issued a Request for Proposals (RFP) for consultants to develop the strategy, structure and execution plan and the governance framework for the AED 100 billion (US$27.2) Dubai Green Fund.

The fund, which was launched last November by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, will provide financial tools for investors in clean energy.

Saeed Mohammed Al Tayer, Vice Chairman of the Dubai Supreme Council of Energy, and MD & CEO of DEWA, said that launching the Dubai Green Fund is an important step to encourage green investments and green growth.

The fund will support the Dubai Plan 2021 to make Dubai sustainable with its resources, whose environmental resources are clean, healthy, and sustainable. It also supports the Dubai Clean Energy Strategy 2050, to produce 75% of Dubai’s total power output from clean energy by 2050. 

The scope of the RFP released by DEWA incudes providing consultancy services to develop the Green Fund Concept, governance structure, underlying regulations and framework, contractual structure, and execution plan, according to international best practices, and in light of Dubai specific needs.

Proposals are expected until end of February 2016. 

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