DEWA's hydroelectric power station is 29 per cent complete.
The plant, which is being built in Hatta, will have a production capacity of 250 megawatts (MW), a storage capacity of 1,500 megawatt-hours, and a life span of up to 80 years.
According to the emirate's electricity and water authority, this is the first station of its kind in the GCC.
The hydroelectric power plant helps with energy storage with a turnaround efficiency of 78.9 per cent.
It utilises the potential energy of the water stored in the upper dam - which is converted to kinetic energy during the flow of water through the 1.2-kilometre subterranean tunnel, to rotate the turbines and convert mechanical energy to electrical energy. This is then sent to the DEWA grid within 90 seconds in response to demand.
Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA), inspected the site and revealed that the 60-metre-deep excavation for the area where the generators will be installed is complete.
Japan's economic stimulus package is set to include tax cuts to spur investment focused around 17 key industries, including AI and semiconductors, and multi-year budget allocations to make policy more predictable, the Nikkei newspaper reported.
Family businesses remain a vital force in the UAE’s economy, contributing around 60 per cent of the country’s GDP, providing more than 80 per cent of jobs, and making up nearly 90 per cent of all private sector companies.
Tesla CEO Elon Musk won shareholder approval on Thursday for the largest corporate pay package in history as investors endorsed his vision of morphing the EV maker into an AI and robotics juggernaut.
Microsoft has expanded its global skilling initiative - Elevate - to equip more than 250,000 students, staff and faculty and more than 55,000 government employees in the UAE with AI skills.