Dubai Electricity and Water Authority (Dewa) has received the ISO 55001: 2014 certificate for asset management after passing an external audit conducted by an international organization.

With this recognition, Dewa said it has become the first government utility in the world to receive the prestigious award for the integration of high quality asset management in operations pertaining to the generation, transmission, and distribution of electricity and water.

Dewa’s success in asset management has brought the utility to a new height of international competitiveness, surpassing the likes of other European and American companies, said a statement from the utility.

Its total assets' worth amounts to Dh120 billion ($33 billion), while assets in conjunction with affiliated companies exceeds Dh127 billion ($35 billion), it stated.

"We are committed to sourcing infrastructure capable of meeting all energy and water demands as part of the development of the emirate," remarked Saeed Mohammed Al Tayer, the managing director and chief executive after receiving the ISO certificate in the presence of Hussain Lootah, executive vice president - transmission power.

“Dewa makes use of the best international methods of practice among all fields, in addition to adopting the integrated systems needed for efficient preservation of asset management, based on the highest standards from around the globe," observed Al Tayer.

"This is mainly to assure balance between costs, risks, and asset performance, in support of our vision of becoming a sustainable, innovative world-class utility capable of achieving great results for our customers, clients, and stakeholders,” he added.

Dewa, he stated, has launched a host of successful initiatives and has allocated over Dh2.6 billion towards the development of world-class electricity and water infrastructure in the emirate, ahead of the World Expo 2020.-TradeArabia News Service