{"id":4973,"date":"2020-03-29T19:50:09","date_gmt":"2020-03-29T19:50:09","guid":{"rendered":"http:\/\/euromenaenergy.com\/?p=4973"},"modified":"2020-03-29T19:50:09","modified_gmt":"2020-03-29T19:50:09","slug":"qewc-shareholders-approve-boards-dividend-proposal","status":"publish","type":"post","link":"https:\/\/emimer.com\/?p=4973","title":{"rendered":"QEWC shareholders approve board\u2019s dividend proposal"},"content":{"rendered":"
\n

The first phase of the largest solar energy project in the region in terms of size and capacity \u2013 Siraj (Solar PV Power Plant with a total capacity of 800MW) will be completed in April, 2021
\nat Al-Kharsaah<\/p>\n

The ordinary general assembly of Qatar Electricity and Water Company (QEWC) yesterday approved the recommendation of the board of directors to distribute cash dividends to shareholders for the fiscal year 2019, at 77.5% of the nominal value of the share.
\nHE the Minister of State for Energy Affairs and chairman of QEWC\u2019s Board of Directors, Saad bin Sherida al-Kaabi said the electricity and water sector contributed to supporting the Qatari economy through \u201ccontinuous co-ordination and co-operation\u201d between the Qatar Electricity and Water Company and the Qatar General Electricity and Water Corp (Kahramaa).
\nThe minister noted that QEWC is keen to implement all necessary projects in accordance with the best specifications to keep pace with the country\u2019s needs. The focus is on raising the efficiency of the performance of its existing plants in line with local and international environmental standards.
\nHe said QEWC completed several projects during 2019, the most important of which was the \u2018Umm Al Houl Energy\u2019 project, which is currently operating at full capacity.
\nThe first phase of the largest solar energy project in the region in terms of size and capacity \u2013 Siraj (Solar PV Power Plant with a total capacity of 800MW) will be completed in April, 2021 at Al-Kharsaah.
\nAl-Kaabi said Qatar General Electricity and Water Corp will purchase energy produced by Siraj. The project is an embodiment of Qatar\u2019s efforts to diversify energy sources and enhance the efficiency of renewable energy, which is an important element for a sustainable future for future generations, in line with Qatar National Vision 2030, launched and sponsored by His Highness the Amir, Sheikh Tamim bin Hamad al-Thani.
\nIn order to diversify the sources of income through foreign investments, Qatar Electricity and Water Company through Nebras Energy Company seeks to increase its investments in global markets by obtaining distinct rates in a number of energy projects outside the country.
\nIn all, 14 such investments have been made in seven countries around the world.
\nAnd in terms of developing the human resources, QEWC works to enhance efforts to develop the national cadre, and increase the number of Qataris in the company and its subsidiaries.
\nHe noted that in 2019, the company achieved a lower percentage of profits than previous years, due to some old stations ceasing operations and investing in building alternative stations.
\nQEWC had posted a net profit of QR1.41bn in 2019, down 8% on 2018. The earnings per share stood at QR1.29.
\nQEWC general manager and managing director Fahad Hamad al-Mohannadi spoke about the company\u2019s projects and future plans.
\nHe also spoke about QEWC\u2019s thrust on developing the Qatari workforce in the company and its subsidiaries.
\nIt works in co-operation with accredited universities, institutes and training centres at home and abroad with the aim of developing and training Qatari employees.
\nCurrently, the company\u2019s Qatarisation rate stood at 24%.
\nAl-Mohannadi highlighted QEWC\u2019s focus on safety in its operations and said it clocked very high rating in this respect.<\/p>\n<\/div>\n

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