DEWA International, the overseas investment arm of Dubai's Electricity and Water Authority, has signed a memorandum of understanding with Chinese energy giant Shanghai Electric to explore joint investment opportunities in international energy and water markets. Saeed Mohammed Al Tayer, DEWA's Managing Director and CEO and Chairman of DEWA International, said the agreement reflects the utility's commitment to expanding its global footprint through strategic partnerships.

Under the deal, the two sides will examine potential cooperation across solar and wind power, battery storage, desalination, green hydrogen, conventional power generation, and electricity transmission and distribution networks. Waleed bin Salman, Vice Chairman of DEWA International, and Shen Bing, President of Shanghai Electric's Power Generation Group, both attended the signing.

Executives cited forecasts suggesting global demand for energy and water infrastructure will surpass $20 trillion by 2035, a figure they say underscores the scale of opportunity for companies with Dubai's track record in the sector.

DEWA and Shanghai Electric have worked together before, notably on the fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park, one of the world's largest single-site concentrated solar projects, valued at roughly Dh15.78 billion. That earlier collaboration, officials say, laid the groundwork of trust behind the new agreement.

Both companies stressed that the memorandum remains at an exploratory stage: no specific overseas project, firm investment commitment, or development timeline has yet been agreed. Still, the deal is the latest in a steady string of international partnerships DEWA International has pursued in recent years as part of its push beyond the UAE market.