In February, DEWA returned to global debt markets after an absence of more than two years with a $1 billion (Dh3.67 billion) Islamic bond, or sukuk, which drew very strong demand. That left it some $230 million short of its full-year borrowing target.

Asked how DEWA planned to finance the rest of its borrowing requirements this year, Al Tayer said: “The strategy consists of different tools, for example ECAs [export credit agencies], syndication...and also bonds. There are many options we have.”