DEWA, Acwa Sign AED1.8 Billion Deal for Dubai Desalination Project Expansion

01:40 AM EST, 11/06/2026 (MT Newswires) -- Dubai Electricity and Water Authority (DFM:DEWA), d/b/a DEWA, signed a 1.76 billion-Emirati dirham agreement with Saudi Arabia's Acwa Power (SASE:2082) for the second phase of the Hassyan desalination project. The Dubai-based utility company will own 60% of the project company, while Acwa will hold the remaining 40%, according to a Friday release. The company will oversee the development, financing, construction and operation of the facility. The second phase will add 60 million imperial gallons per day of production capacity under a 30-year water purchase agreement, bringing the facility's total capacity to 240 million imperial gallons per day.