Abu Dhabi: The second phase of a regional power grid project, which is expected to save the Gulf Cooperation Council (GCC) states Dh18.4 billion in electricity costs, was launched in Abu Dhabi Wednesday.
His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, inaugurated the second phase of the GCC Grid Interconnection Project.
"The project aims to connect the electricity grids in GCC countries. This will provide a platform for energy trade and exchange, while improving the reliability of existing energy systems and lowering electricity reserve requirements on GCC countries," Shaikh Mohammad said.
The strategic and economic integration of the GCC region is the key to the well-being of its citizens and also represents the shared vision of GCC leaders, he added.
Mohammad Bin Dha'en Al Hameli, Minister of Energy, said the UAE is working on increasing its power output to meet demand.
The cost of the electricity grid exceeds Dh5 billion of which the UAE's contribution is about Dh800 million. The grid's members are Saudi Arabia, UAE, Kuwait, Bahrain and Qatar.
Eisa Al Kawari, chairman of the GCC Interconnection Authority, said Oman is expected to join the grid within two years. He also said Saudi Arabia has undertaken a study with the World Bank about connecting the grid to Europe.
