Executive Council Resolution No. 11 of 2022 approving the Articles of Association of the Dubai Electricity and Water Authority (PJSC).

This Executive Council Resolution approves the articles of Association of the Dubai Electricity and Water Authority PJSC ((DEWA), a public joint-stock company owned by the Government of Dubai. The company, as outlined in Article 4, is responsible for the following objectives (i) establishing, managing, operating, maintaining, and owning the public water and electricity network, including power generation and water desalination stations, reservoirs, and transportation and distribution networks; (ii) establishing, managing, operating, maintaining, and owning electricity and water networks, power stations, water desalination plants, reservoirs, and transmission and distribution networks outside the Emirate; (iii) developing all water sources, treating reservoir water for potability, and storing, transporting, and distributing water to consumers; (iv) initiating and managing projects related to power generation and water supply to meet public needs and development requirements in the Emirate. For the achievement of these objectives, the Company is empowered to (i) purchase electricity and water at suitable prices and conditions; (ii) contract with others for the construction, management, and operation of power generation and water desalination plants, as well as establish, operate, and dissolve subsidiaries; (iii) establish wholly or partially owned companies and contribute to entities within or outside the Emirate in the water and electricity sector; (iv) purchase, sell, and supply fuel to entities permitted for power generation and water supply; (v) acquire, own, rent, and lease land and other real property as needed. Invest funds in commercial, financial, service, or industrial fields directly, indirectly, or through subsidiaries; (vi) borrow and lend money in accordance with Emirate legislation; (vii) grant rights on owned land to entities contributing to power generation and water supply; (viii) execute and oversee projects as determined by the Board of Directors.
The main provisions of the document are (i) the company is the exclusive authority in the Emirate of Dubai for managing, operating, and owning the public water and electricity network, and for developing water sources and supplying water to consumers; (ii) the Government of Dubai must hold at least 51% of the share capital; (iii) PJSC is managed by a board of directors consisting of a chairperson, a vice chairperson, and other experienced and specialised members. The directors are appointed or elected by the general assembly by cumulative voting; (iv) the company may issue bonds or other securities of any nature, whether convertible to shares or not, subject to the approval of the general assembly and the Securities and Commodities Authority; (v) the company shall be dissolved pursuant to a resolution of the Executive Council of the Emirate of Dubai in certain cases, such as expiry of its term, fulfilment of its objectives, merger, or destruction of its assets.