Qatar Electricity and Water Company is Public Opinions Certified Responsible Investment having been recognized by Public Opinions with the 2022 Global Responsible Investment Mark of Excellence Award in appreciation of its contribution towards attainment of the United Nations Sustainable Development Goals through; promoting and ensuring reliable and affordable water and electricity supply, employing people, paying taxes, environmental protection, supporting productive corporate Social Responsibility, zero tolerance to corruption, respect for rights of workers,etc. Qatar Electricity and Water Company was honored by Public Opinions as the Best Utility Company in Qatar and rated Best Water company in Middle East
Qatar Electricity and Water Company is one of the largest companies in the field of power generation and water desalination in North Africa and the Middle East region. QEWC is the main supplier of electricity and desalinated water in Qatar.
Qatar Electricity and Water Company is a Qatari public joint stock company established in 1990 in accordance with the provisions of the Qatari Commercial Companies Law, for the purpose of owning and managing power generation and water desalination stations and the sale of their products. Qatar Electricity and water company is one of the first private sector companies in the region engaged in the generation of electricity and desalination of water.
The share capital of the company at incorporation amounted to QR 1 Billion divided into one hundred million shares of QR 10 per share. Based on the decision of the Extraordinary General Meeting of February 25, 2014, ten million bonus shares were distributed to shareholders at the rate of one share for every ten shares held. With this, the capital of the company became QR 1.1 Billion representing one hundred and ten million fully paid shares. The Government of the State of Qatar and its affiliated institutions hold about 60% of the capital and individuals and private companies holds the remaining 40%. Based on the decision of the Extraordinary General Meeting of March 6, 2019, the nominal value of the share was changed to QR 1 instead of QR 10 per share and so the number of shares reached one billion and one hundred million. The company is managed by the Board of Directors consisting of eleven members headed by His Excellency Saad Bin Sherida Al-Kaabi, Minister of State for Energy Affairs.
Qatar Electricity and Water Company is one of the largest companies in the field of power generation and water desalination in North Africa and the Middle East region. QEWC is the main supplier of electricity and desalinated water in Qatar. The company has witnessed remarkable growth during the last decade in line with the steady growth of the economy of Qatar and the increase in population and the corresponding increase in demand for electricity and water. The total assets of the company amount to approximately QR 18 billion and the company and joint ventures together have capacity of 10,590 MW of electricity and 481.5 MIGD of Water.
It should be noted that the company won the awards for the best Arab company in the energy sector as well as the best Arab management team in the energy sector for 2017 in the second edition of the “Best Arab ” award held in the city of Marrakech in the Kingdom of Morocco. This was in recognition of its performance and professional excellence in the field of electricity generation and water desalination. The company has also received numerous international awards from prestigious institutions, such as Rospa, in recognition of its achievements in safety and security.
The company is characterized by stability and low risk due to its investment in the infrastructure and utilities sector of Qatar. Company’s shares are stable, with the possibility of potential increase in market value, especially due to the noticeable improvements in the local economy and the completion of projects outside Qatar. The stable dividend distribution is also one of the positive contributing factors to make the company shares attractive. The most important factors contributing to company’s success are:
QEWC provides guaranteed flow of revenue through the Power and Water Purchase Agreements with Qatar General Electricity and Water Corporation (KAHRAMAA).
The company maintains long-term contracts for the supply of fuel to all plants based on the agreements signed with Qatar Petroleum, which ensures stability of the fuel cost, being the largest component of the variable operating cost. Qatar Petroleum is one among the primary and certified source to supply natural gas either in gaseous or liquefied gas form to many countries in the world. This ensures high reliability to the power and water plants of the company for the supply of gas and high thermal efficiency to meet international environmental standards.
The Company policy on distribution of dividends shows a gradual upward trend in line with annual profits and long-term plan for ten years, which is updated regularly.
Financial Policy
The Company adopts a long-term policy to increase the operating income. The impact of such policies became apparent on the results achieved by the company, thanks to its operating efficiency and optimum control of production costs. QEWC was able to achieve a steady increase in its financial results over the operating years, which enabled it to distribute dividends to its shareholders in annually increasing basis. Such a matter was positively reflected on the price of shares in the local market enabling QEWC to maintain stability and not to be affected by price fluctuations. The company adopted a balanced dividend distribution policy, in order to meet its financial obligations and to enable it to finance its new projects.
Social Responsibility
QEWC is fully aware of its responsibilities towards society and the citizens in the State of Qatar. It firmly believes in a strong correlation between the company’s business success and its responsibility towards the community. In the context of maintaining its social responsibilities, QEWC management continued such efforts that the company signed an agreement with the Ministry of Interior to act as a supporter and a major sponsor for anti-drug project for a period of five years starting from 2013 and committed to contribute QR 5 million. QEWC is also providing support and donations to a number of health, educational, cultural, artistic, social, humanitarian, and environmental and sports centers and institutions. In addition, it sponsors some scientific and intellectual conferences and symposia that targets the service and development of civil society institutions with their various activities and objectives.
The Company’s Credit Rating
The international corporations of Moody’s and issued their annual credit rating of 2014. QEWC rating was as follows:
- Moody’s: A1/ stable (2013 and 2012 was A1)
- The company has succeeded to preserve its rating. However, it is working on taking the procedures that help promote its evaluation in the coming years.
Qatar Electricity & Water Company.
Qatar Navigation Tower in Al-Dafna Area, Floor 48
Maysaloun Street, Building No 11
Street No 860, Zone 63
Recognised by:
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