Latest news with #UAEEnergyStrategy2050
Arabian Post
4 days ago
- Business
- Arabian Post
GCC Power Grid Expansion Bolstered by Dhs752m Abu Dhabi Loan
Abu Dhabi Fund for Development has advanced regional energy integration by extending AED 752 million to the Gulf Cooperation Council Interconnection Authority, supporting the expansion of the UAE's national grid interconnection with the wider GCC electricity network. This strategic financing, signed at ADFD headquarters in Abu Dhabi, aims to enhance cross-border power exchange and reinforce regional energy reliability. The deal facilitates construction of a 96 km, 400 kV double-circuit overhead transmission line between the Al Silaa substation in the UAE and Salwa in Saudi Arabia. It also covers upgrades to the Gonan, Al Silaa and Salwa substations, including installation of next-generation switchgears, circuit breakers, reactors, and modern protection-control systems. These enhancements are expected to elevate transmission capacity from 2,400 MW to 3,500 MW. Mohammed Saif Al Suwaidi, director-general of ADFD, emphasised the fund's role in supporting high-impact infrastructure aligned with national priorities and facilitating the transition to cleaner energy. He described the initiative as a 'strategic enabler of energy security' that will boost grid efficiency, enhance emergency readiness, strengthen partnerships across the Gulf, and enable wider integration of renewables. ADVERTISEMENT GCCIA CEO Ahmed Ali Al Ebrahim hailed the agreement as the first phase of a regional programme that includes grid connections with Kuwait, Oman, and southern Iraq, with total investment expected to exceed $1 billion. He also projected that expanding transmission capacity could unlock economic opportunities valued at more than $20 billion over the next 15 years. These initiatives are central to the GCCIA's vision of forging a resilient, interconnected power system. Technical and economic feasibility studies have underpinned the project design, ensuring it meets anticipated future demand. This expanded interconnection supports the UAE Energy Strategy 2050, which targets a sustainable and cost-efficient energy ecosystem, and aligns with collective GCC goals for energy security, economic integration, and emissions reduction. The upgrades are also set to enhance grid reliability and operational flexibility. The new 400 kV lines and upgraded substations, equipped with advanced protection and control technologies, will improve performance under stress and during emergencies, reinforcing stability across the network. By facilitating cross-border electricity trade, the project lays groundwork for a unified Gulf electricity market. Al Ebrahim asserted this could open up significant economic potential, projecting gains exceeding $20 billion over 15 years. The broader vision embraces enhanced integration of renewable energy, helping GCC states meet sustainability objectives. Regional interconnection enables efficient distribution of solar and wind-generated power, addressing demand variations and curbing carbon emissions in line with global climate commitments. ADFD's financing reflects its established track record in backing infrastructure and development projects through concessionary loans. Established in 1971, the fund has supported both domestic UAE goals and international aid initiatives. GCCIA, the body responsible for coordinating the Gulf's interconnection system, currently links Kuwait, Saudi Arabia, Bahrain, Qatar and the UAE. The expanded network capacity will enhance its technical resilience and capacity to support growing electricity needs, including future peaks and evolving regional dynamics.
Mid East Info
6 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.
Gulf Today
6 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
Mid East Info
25-06-2025
- Automotive
- Mid East Info
National Bank of Fujairah Recognised as ESG Leader with Prestigious Awards and Dubai Chamber Label - Middle East Business News and Information
Recognition highlights NBF's commitment to sustainability and responsible banking Dubai – June 2025 — The National Bank of Fujairah NBF is proud to announce that it has been recognised as an Environmental, Social, and Governance ESG leader, with wins at the 2025 MEA Business Achievement Awards. NBF received three prestigious awards in the Banking & Finance category in ESG Excellence, Outstanding Sustainability Initiative, and Outstanding Community Impact & Engagement. This underscores the bank's unwavering commitment to responsible banking and sustainable development. Additionally, NBF has been awarded the prestigious Dubai Chamber of Commerce ESG Label, further highlighting its dedication to ESG principles. These accolades reinforce NBF's position as a purpose-driven financial institution that places ESG and community engagement at the heart of its strategy. A testament to NBF's long-standing dedication to ESG principles, the awards and the ESG label recognise the bank's proactive role in fostering positive change within the communities it serves. From pioneering green finance solutions to running impactful community outreach programmes, NBF continues to lead by example in embedding sustainability into its core operations. The Dubai Chamber of Commerce ESG Label is a framework designed to help organisations assess their ESG maturity and reporting alignment. It provides a comprehensive assessment of an organisation's performance in key areas such as environmental impact, social responsibility, and governance practices. The label aims to promote transparency and accountability, encouraging organisations to adopt sustainable practices and contribute to the overall well-being of the community. NBF has been actively involved in various initiatives to promote sustainability and responsible banking. The bank's ESG agenda aligns with the sustainability pillars of the UAE's Ministry of Climate Change and Environment, and it actively supports the UAE Energy Strategy 2050 to transform the national economy, setting goals for 2030 and ambitions for 2050 to reach net zero. Efforts include offering innovative, environmentally friendly products and services such as green personal loans and automotive loans for owners of fuel-efficient, eco-friendly cars. The bank also invests in green initiatives to mitigate its own environmental impact, including the installation of solar water heaters and solar panels at its facilities. NBF continues to innovate and expand its offerings, remaining committed to delivering value-led, customer-first solutions. The bank's recent achievements and initiatives underscore its dedication to enhancing the customer experience and supporting sustainable development.
Al Etihad
12-06-2025
- Business
- Al Etihad
UAE participates in 7th BRICS Youth Energy Summit
12 June 2025 13:47 BRASÍLIA (WAM) A UAE delegation, headed by the Ministry of Energy and Infrastructure, participated in the 7th BRICS Youth Energy Summit, hosted by Brazil. The summit saw the participation of youth delegations comprising elite experts and professionals from member states and invited UAE delegation included representatives of several leading national entities in the energy sector, including the Abu Dhabi Department of Energy, Abu Dhabi National Oil Company (ADNOC), the Federal Youth Authority, Emirates Water and Electricity Company (EWEC), and the Sharjah Electricity, Water, and Gas Authority (SEWA).This participation comes as part of the UAE's ongoing efforts to strengthen international cooperation, empower youth, and showcase its leadership in the field of energy transition. It aligns with goal 7 of the Sustainable Development Goals, which aims to ensure access to affordable, reliable, sustainable, and modern energy for UAE delegation participated as a keynote speaker in the panel discussion titled: 'Technological Advancements for Low-Carbon Power Systems,' where it highlighted the country's progress in developing smart and resilient energy systems based on low-carbon fuels—such as clean hydrogen, solar energy, and sustainable aviation delegation also highlighted the UAE's pioneering national policies and initiatives, foremost among them the UAE Energy Strategy 2050 and the National Hydrogen Strategy the delegation emphasised the country's commitment to implementing the outcomes of the historic UAE Consensus, launched during its presidency of COP28, which calls for a just and orderly transition away from fossil fuels, the expansion of renewable energy technologies, and the achievement of climate neutrality by delegation stressed the importance of investing in technology and innovation, building national capacities, and empowering youth to lead the global transition toward low-emission energy success stories in clean energy and research and development were also showcased, serving as inspiring models for BRICS countries and the wider world. At the conclusion of the summit, the delegation reaffirmed the UAE's commitment to strengthening cooperation with its international partners within the BRICS group to build a more secure, sustainable, and inclusive energy future for generations to come.
