DEWA delivers record $906.6 million net profit in H1 2026 amid continued customer growth

Dubai Electricity and Water Authority (DEWA) reported on Wednesday its first-half 2026 consolidated financial results, recording record half-year revenue of AED14.86 billion ($4.05 billion), EBITDA of AED7.32 billion ($1.99 billion), operating profit of AED4.07 billion ($1.11 billion) and net profit of AED3.33 billion ($906.6 million). “DEWA delivered record results in the first half of 2026, achieving its highest-ever first-half revenue, EBITDA, operating profit and net profit. Net profit increased by 15.02 percent to AED3.33 billion, supported by sustained first-half demand for electricity, water and cooling services, continued customer growth and disciplined operational performance," said HE Saeed Mohammed Al Tayer, Vice Chairman and MD & CEO of DEWA. Clean power contributes 19.9 percent to total power generation In the second quarter of 2026, DEWA generated 15.78 TWh of electricity. During this quarter, clean power generated reached 3.14 TWh, contributing 19.9 percent to total power generation. Desalinated water production during the quarter reached 40.25 billion imperial gallons (BIG). DEWA increased its customer base by an impressive 18,220 customer accounts during the quarter. Over the last twelve months, the total number of customer accounts increased by 72,718, representing year-on-year growth of 5.63 percent. "During the second quarter, clean energy accounted for 19.9 percent of total power generated. These results reflect the continued strength of Dubai’s economy, the resilience of DEWA’s business model and our commitment to sustainability, operational excellence and long-term shareholder value. Subject to the necessary approvals, we expect to distribute a further AED3.1 billion in October 2026,” added Al Tayer. DEWA's system installed generation capacity hits 17,979MW By the first half of 2026, the company’s system installed generation capacity had reached 17,979MW, of which 3,860MW came from clean energy sources, representing 21.5 percent of the energy mix. In addition, DEWA commissioned Block A of the Hassyan Sea Water Reverse Osmosis (SWRO) plant, adding 60 MIGD to its water production capacity. DEWA’s SWRO capacity now represents 23 percent of its total desalination capacity. During 2026, DEWA expects to add an additional 120 MIGD of SWRO capacity. By the end of 2030, DEWA plans to have a total installed power generation capacity exceeding 23GW and desalinated water production capacity of 735 MIGD.