Latest news with #ADFD
Gulf Business
a day ago
- Business
- Gulf Business
New $205m agreement to boost UAE-GCC power grid interconnection
Image courtesy: WAM/ For illustrative purposes Abu Dhabi Fund for Development (ADFD) has signed a Dhs752m ($205m) financing agreement with the Gulf Cooperation Council Interconnection Authority (GCCIA) to support the expansion of the GCC power grid interconnection with the UAE's national electricity network, state news agency WAM reported. The agreement, signed at The infrastructure project forms part of broader efforts to enhance regional energy resilience and enable wider economic and developmental integration, aligning with the UAE Energy Strategy 2050. The strategy aims to create an energy system that is both sustainable and economically efficient. Initiative will increase electricity transmission capacity between UAE and GCC Designed as a strategic grid upgrade, the initiative will significantly increase electricity transmission capacity between the UAE and the GCC network. Technical and economic feasibility studies have supported its design, in line with the GCCIA's vision for a durable, regionally connected power infrastructure. The project includes the construction of a 400kV double-circuit overhead transmission line spanning 96 kilometres, connecting the Al Silaa substation in the UAE with the Salwa substation in Saudi Arabia. It also entails the expansion of three substations — Gonan, Al Silaa, and Salwa — and the installation of advanced 400kV switchgears, circuit breakers, and reactors, along with modern protection and control systems to enhance grid efficiency and reliability. 'This project reflects ADFD's commitment to financing high-impact infrastructure that supports the UAE's development priorities,' said Mohammed Saif Al Suwaidi, director-general of ADFD. 'Power grid interconnection is a strategic enabler of energy security and a foundation for accelerating the transition to He added that the project would 'increase the efficiency of the power grid, improve emergency preparedness, strengthen connectivity with regional partners, and promote the integration of renewable energy,' supporting the GCC's sustainability and emissions reduction goals. Engineer Ahmed Ali Al Ebrahim, CEO of the GCCIA. called the initiative the first phase of a broader collaboration with ADFD during the current grid expansion and noted parallel efforts to interconnect with Kuwait, Oman, and southern Iraq, representing a total investment exceeding $1bn. 'By leveraging increased transmission capacity, we aim to activate a unified Gulf electricity market to facilitate cross-border power trade,' Al Ebrahim said. 'This could create economic opportunities projected to exceed $20bn over the next 15 years.'
Mid East Info
3 days ago
- Business
- Mid East Info
ADFD and GCC Interconnection Authority Sign AED 752 Million Agreement to Expand GCC power Grid Connectivity With the UAE
Abu Dhabi, United Arab Emirates: Abu Dhabi Fund for Development (ADFD) has signed a financing agreement with the Gulf Cooperation Council Interconnection Authority (GCCIA) to support the expansion of the GCC power grid interconnection with the UAE's national grid. Valued at AED 752 million (USD 205 million), the agreement aims to strengthen regional energy security and catalyse power exchange between the UAE and other GCC member states. The agreement was signed at ADFD headquarters in Abu Dhabi by His Excellency Mohammed Saif Al Suwaidi, Director General of ADFD, and His Excellency Eng. Ahmed Ali Al Ebrahim, CEO of the GCCIA. The signing was also attended by H.E. Eng. Sharif Salim Al Olama, Undersecretary of UAE Ministry of Energy and Infrastructure and Board Member of the GCCIA; H.E. Dr. Saif Saeed Al Qubaisi, Acting Director General of Regulatory Affairs at Abu Dhabi Department of Energy and Board Member of GCCIA, alongside other senior officials from both parties. The project aims to strengthen the interconnectivity between the UAE and GCC power grid, enhancing regional energy resilience and enabling broader economic and developmental integration. It also aligns with the UAE Energy Strategy 2050, which aims to establish an energy system that is efficient and sustainable, contributing to long-term national economic growth. H.E. Mohammed Saif Al Suwaidi reaffirmed ADFD's commitment to financing strategic infrastructure projects that align with the UAE's development goals. He highlighted the critical role of grid interconnection in building a resilient energy network and advancing regional efforts toward cleaner, more sustainable power generation. Designed as a strategic infrastructure upgrade, the project will reinforce the GCCIA grid and significantly expand electricity transmission capacity with the UAE. Based on detailed technical and economic feasibility studies, the initiative aligns with the GCCIA's forward-looking vision to deliver a reliable and durable regional power infrastructure. The project includes the construction of a 400kV double-circuit overhead transmission line extending 96 kilometres to connect the Al Silaa substation in the UAE with the Salwa substation in Saudi Arabia. It also involves the expansion of three key substations in Gonan, Al Silaa, and Salwa, and the installation of upgraded 400kV switchgears, circuit breakers and reactors. The project will also oversee the development of advanced protection and control systems, improving grid efficiency and reliability. H.E. Mohamed Al Suwaidi said: 'The project reflects ADFD's commitment to financing high-impact infrastructure that supports the UAE's development priorities. Power grid interconnection is a strategic enabler of energy security and a foundation for accelerating the transition to clean and sustainable energy sources.' He added: 'Our collaboration with the GCC Interconnection Authority is a practical example of regional energy integration. The project will increase the efficiency of the power grid, improve emergency preparedness, strengthen connectivity with regional partners, and promote the integration of renewable energy into a unified network, reinforcing the GCC's collective commitment to sustainable goals and emissions reduction targets.' Regarding the agreement H.E. Eng. Ahmed Ali Al Ebrahim, CEO of the GCCIA, said: 'This project represents the first phase of our partnership with ADFD during the current expansion of the GCC power grid. Alongside this effort, we are also advancing key interconnection initiatives with Kuwait, a direct link with Oman, and a southern Iraq grid connection. Together, these projects represent a total investment of over USD 1 billion.' He further explained: 'By leveraging increased transmission capacity, we aim to activate a unified Gulf electricity market to facilitate cross-border power trade, creating significant economic value, with projected opportunities exceeding USD 20 billion over the next 15 years.' Eng. Al-Ebrahim also praised the cooperation with ADFD, noting its important role in financing critical infrastructure that supports the GCC's sustainable development agenda. ADFD continues to play a leading role in advancing the energy sector. Over the years, the Fund has financed pioneering projects that have strengthened energy security and contributed to sustainable development, underscoring its steadfast commitment to advancing the global clean energy agenda.
Arabian Business
3 days ago
- Business
- Arabian Business
UAE backs $205m grid project with GCC as it eyes $20bn energy market
The Abu Dhabi Fund for Development (ADFD) has signed a financing agreement worth AED752m ($205m) with the Gulf Cooperation Council Interconnection Authority (GCCIA) to expand the GCC power grid and connect it more closely with the UAE's national electricity network. Signed in Abu Dhabi, the agreement aims to bolster regional energy security, enhance grid reliability, and support clean energy integration. The project also aligns with the UAE Energy Strategy 2050, which focuses on creating a sustainable and efficient energy system to support long-term economic growth. UAE grid project highlights A new 400kV double-circuit overhead transmission line will stretch 96km, linking the Al Silaa substation in the UAE to the Salwa substation in Saudi Arabia Upgrades will be made to substations in Gonan, Al Silaa, and Salwa, including the installation of advanced 400kV switchgears, circuit breakers, and protection systems The project aims to improve electricity transmission capacity, grid efficiency, and emergency preparedness across the region Mohammed Saif Al Suwaidi, Director-General of ADFD, said: 'The project reflects ADFD's commitment to financing high-impact infrastructure that supports the UAE's development priorities. Power grid interconnection is a strategic enabler of energy security and a foundation for accelerating the transition to clean and sustainable energy sources. 'Our collaboration with the GCC Interconnection Authority is a practical example of regional energy integration. 'The project will increase the efficiency of the power grid, improve emergency preparedness, strengthen connectivity with regional partners, and promote the integration of renewable energy into a unified network, reinforcing the GCC's collective commitment to sustainable goals and emissions reduction targets.' Ahmed Ali Al Ebrahim, CEO of GCCIA, said this marks the first phase of a broader regional grid expansion, with additional connections planned for Kuwait, Oman, and southern Iraq. He said these efforts will unlock an estimated $20bn in economic value from regional power trade over the next 15 years. He said: 'These projects represent a total investment of over $1bn. By leveraging increased transmission capacity, we aim to activate a unified Gulf electricity market to facilitate cross-border power trade, creating significant economic value, with projected opportunities exceeding $20bn over the next 15 years.'
Gulf Today
3 days ago
- Business
- Gulf Today
ADFD, GCCIA sign Dhs752 million deal to expand GCC grid connectivity
Abu Dhabi Fund for Development (ADFD) has signed a financing agreement with the Gulf Cooperation Council Interconnection Authority (GCCIA) to support the expansion of the GCC power grid interconnection with the UAE's national grid. Valued at Dhs752 million ($205 million), the agreement aims to strengthen regional energy security and catalyse power exchange between the UAE and other GCC member states. The agreement was signed at ADFD headquarters in Abu Dhabi by Mohammed Saif Al Suwaidi, Director-General of ADFD, and Eng. Ahmed Ali Al Ebrahim, CEO of the GCCIA. The signing was also attended by Eng. Sharif Salim Al Olama, Undersecretary of UAE Ministry of Energy and Infrastructure and Board Member of the GCCIA; Dr. Saif Saeed Al Qubaisi, Acting Director-General of Regulatory Affairs at Abu Dhabi Department of Energy and Board Member of GCCIA, alongside other senior officials from both parties. The project aims to strengthen the interconnectivity between the UAE and GCC power grid, enhancing regional energy resilience and enabling broader economic and developmental integration. It also aligns with the UAE Energy Strategy 2050, which aims to establish an energy system that is efficient and sustainable, contributing to long-term national economic growth. Designed as a strategic infrastructure upgrade, the project will reinforce the GCCIA grid and significantly expand electricity transmission capacity with the UAE. Based on detailed technical and economic feasibility studies, the initiative aligns with the GCCIA's forward-looking vision to deliver a reliable and durable regional power infrastructure. The project includes the construction of a 400kV double-circuit overhead transmission line extending 96 kilometres to connect the Al Silaa substation in the UAE with the Salwa substation in Saudi Arabia. It also involves the expansion of three key substations in Gonan, Al Silaa, and Salwa, and the installation of upgraded 400kV switchgears, circuit breakers and reactors. The project will also oversee the development of advanced protection and control systems, improving grid efficiency and reliability. Al Suwaidi said, 'The project reflects ADFD's commitment to financing high-impact infrastructure that supports the UAE's development priorities. Power grid interconnection is a strategic enabler of energy security and a foundation for accelerating the transition to clean and sustainable energy sources.' He added, 'Our collaboration with the GCC Interconnection Authority is a practical example of regional energy integration. The project will increase the efficiency of the power grid, improve emergency preparedness, strengthen connectivity with regional partners, and promote the integration of renewable energy into a unified network, reinforcing the GCC's collective commitment to sustainable goals and emissions reduction targets.' Al Ebrahim commented, 'This project represents the first phase of our partnership with ADFD during the current expansion of the GCC power grid. Alongside this effort, we are also advancing key interconnection initiatives with Kuwait, a direct link with Oman, and a southern Iraq grid connection. Together, these projects represent a total investment of over $1 billion.' He further explained, 'By leveraging increased transmission capacity, we aim to activate a unified Gulf electricity market to facilitate cross-border power trade, creating significant economic value, with projected opportunities exceeding $20 billion over the next 15 years.' Earlier Abu Dhabi Fund for Development (ADFD) has published its 2024 Annual Report, showcasing its pioneering achievements in advancing strategic objectives aligned with the UAE's foreign aid policy. The report underscores the ADFD's vital role in supporting global sustainable development and enhancing the quality of life for communities worldwide. The report emphasizes ADFD's significant contributions to major national agendas, including the UAE Export Development Policy, UAE Centennial 2071, and Abu Dhabi Economic Vision 2030. These efforts are led by the Abu Dhabi Exports Office (ADEX), part of Abu Dhabi Fund for Development (ADFD), aimed at strengthening the global competitiveness of the UAE's industrial sector. By the end of 2024, ADFD's cumulative development financing reached Dhs216.5 billion, benefitting 107 countries across various continents. This total comprises Dhs157 billion in concessional loans, Dhs57.6 billion in government grants, and Dhs1.9 billion in direct contributions. The financing supported strategic projects in critical sectors including renewable energy, infrastructure, such as housing, transportation, education, technology, and water security -helping to drive economic growth and improve quality of life in partner nations. ADFD remains committed to supporting the national economy and the long-term growth of Emirati companies, while enhancing their international reach. In this context, ADEX allocated Dhs4 billion in financing by the end of 2024 to support UAE national exports, facilitating access to over 40 global markets. WAM
Zawya
3 days ago
- Business
- Zawya
ADFD, GCCIA sign $205mln agreement to expand GCC power grid connectivity with UAE
Abu Dhabi Fund for Development (ADFD) has signed a financing agreement with the Gulf Cooperation Council Interconnection Authority (GCCIA) to support the expansion of the GCC power grid interconnection with the UAE's national grid. Valued at AED752 million (US$205 million), the agreement aims to strengthen regional energy security and catalyse power exchange between the UAE and other GCC member states. The agreement was signed at ADFD headquarters in Abu Dhabi by Mohammed Saif Al Suwaidi, Director-General of ADFD, and Eng. Ahmed Ali Al Ebrahim, CEO of the GCCIA. The signing was also attended by Eng. Sharif Salim Al Olama, Undersecretary of UAE Ministry of Energy and Infrastructure and Board Member of the GCCIA; Dr. Saif Saeed Al Qubaisi, Acting Director-General of Regulatory Affairs at Abu Dhabi Department of Energy and Board Member of GCCIA, alongside other senior officials from both parties. The project aims to strengthen the interconnectivity between the UAE and GCC power grid, enhancing regional energy resilience and enabling broader economic and developmental integration. It also aligns with the UAE Energy Strategy 2050, which aims to establish an energy system that is efficient and sustainable, contributing to long-term national economic growth. Designed as a strategic infrastructure upgrade, the project will reinforce the GCCIA grid and significantly expand electricity transmission capacity with the UAE. Based on detailed technical and economic feasibility studies, the initiative aligns with the GCCIA's forward-looking vision to deliver a reliable and durable regional power infrastructure. The project includes the construction of a 400kV double-circuit overhead transmission line extending 96 kilometres to connect the Al Silaa substation in the UAE with the Salwa substation in Saudi Arabia. It also involves the expansion of three key substations in Gonan, Al Silaa, and Salwa, and the installation of upgraded 400kV switchgears, circuit breakers and reactors. The project will also oversee the development of advanced protection and control systems, improving grid efficiency and reliability. Al Suwaidi said, 'The project reflects ADFD's commitment to financing high-impact infrastructure that supports the UAE's development priorities. Power grid interconnection is a strategic enabler of energy security and a foundation for accelerating the transition to clean and sustainable energy sources.' He added, 'Our collaboration with the GCC Interconnection Authority is a practical example of regional energy integration. The project will increase the efficiency of the power grid, improve emergency preparedness, strengthen connectivity with regional partners, and promote the integration of renewable energy into a unified network, reinforcing the GCC's collective commitment to sustainable goals and emissions reduction targets.' Al Ebrahim commented, 'This project represents the first phase of our partnership with ADFD during the current expansion of the GCC power grid. Alongside this effort, we are also advancing key interconnection initiatives with Kuwait, a direct link with Oman, and a southern Iraq grid connection. Together, these projects represent a total investment of over US$1 billion.' He further explained, 'By leveraging increased transmission capacity, we aim to activate a unified Gulf electricity market to facilitate cross-border power trade, creating significant economic value, with projected opportunities exceeding US$20 billion over the next 15 years.'
