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.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
27 minutes ago
- Khaleej Times
UAE: Travelling from Sharjah this summer? Airport reveals busiest days
Sharjah Airport announced on Saturday a significant increase in travel volume to and from the emirate during the peak summer season, with over 800,000 passengers expected to travel from July 1 to 15, 2025. It said a comprehensive plan has been prepared to provide a seamless travel experience for all passengers during the first two weeks of July. Earlier, Dubai Airports, Emirates and Etihad Airways issued advisories, asking passengers to come early and opt for online check-in due to peak summer travel. A large number of UAE residents travel during summer to their home countries and cooler climes. UAE residents have started resuming travel plans after a ceasefire to the Iran-Israel war was announced following recent geopolitical tensions in the region, including an Iranian strike on a US base in Qatar. Most UAE airlines fully resumed their scheduled operations a few hours after the Iranian attack. In its latest update on June 25, Sharjah-based Air Arabia said as regional airspace continues to open, it is gradually resuming operations on previously suspended flights. 'Sharjah Airport urges passengers to arrive at the airport three hours before their flight to avoid any potential delays in completing travel procedures. Passengers are also advised to communicate with their airlines in advance to verify flight times and any updates,' it said on Saturday. Sharjah Airport Authority (SAA) assured that it has intensified efforts around the clock with teams and customer service staff working to provide necessary support, respond to passenger inquiries, and guide them in using the airport's smart services and innovative technologies with ease.
Arabian Business
2 hours ago
- Arabian Business
Riyadh Monopoly board game unveiled, showcasing Saudi capital's culture and landmarks
Riyadh Monopoly, a new edition of the world's most iconic board game, has officially been unveiled in the Saudi capital. The game was launched on June 26, 2025 at a high-profile event held at the King Abdullah Financial District (KAFD) Conference Centre, attended by government, cultural, education and media leaders. The launch marks Riyadh's first-ever Monopoly edition, designed to reflect the capital's most recognisable landmarks, historic streets and visionary developments — from ancient quarters to cutting-edge urban hubs like KAFD. Riyadh Monopoly Mazroua Al-Mazroua, Chief Marketing and Experience Officer, at the King Abdullah Financial District Development and Management Company (KAFD DMC), said: 'Riyadh Monopoly reflects our goal of making big, strategic projects accessible and engaging to all ages. 'As the leading destination for international and local businesses in Saudi Arabia, we are creating new opportunities for the next generation to thrive. We want the new generation to recognise the names and places shaping their future. What better way than through play?'. With over 50 per cent of Riyadh's population under the age of 20, the game aims to bring families and young people together through competitive play — all while promoting awareness of Saudi Arabia's rich culture, modern transformation, and investment in youth empowerment. The Riyadh Monopoly edition is expected to appeal to both local families and international visitors, offering a dynamic introduction to the city through an interactive lens. Riyadh Monopoly will hit stores across Saudi Arabia in September 2025, and is expected to become a popular souvenir and educational tool — helping residents and tourists alike explore the city's transformation from historic capital to modern megacity. Among the iconic locations included in the board game's latest edition are: KAFD Financial Plaza Souk Al Zal Diplomatic Quarter King Fahd Road The Ritz-Carlton British International School
Arabian Business
2 hours ago
- Arabian Business
UAE petrol prices to change; Dubai real estate hotspots; Millionaire investment tips; Leave guide and 2026 holiday dates – 10 things you missed this week
From UAE petrol price changes and new credit rules to real estate innovations and millionaire savings plans, the Gulf is seeing rapid shifts in finance and lifestyle. Meanwhile, smart city projects, public sector reforms, and Ramadan 2026 forecasts are helping shape the months ahead. Catch up with 10 of the biggest stories this week, as selected by Arabian Business editors. UAE petrol prices to change for July 2025 The UAE is set to announce petrol prices for July 2025 in the next few days. Petrol prices have remained virtually unchanged for the past three months, following two months of freezes to the cost of filling up at the pump. Despite the current stability, it is currently significantly cheaper to fill up a tank than year ago, with all categories becoming more affordable, despite prices fluctuating throughout the past 12 months. Saudi Arabia announces new credit card rules The Saudi Central Bank (SAMA) has announced updated credit card rules. The updated regulations will be for credit card issuance and operation, targeting cost reduction for customers whilst increasing disclosure and transparency levels, and will take effect within 30 to 90 days. Under the updated framework, credit card issuers must notify customers of fee changes via SMS, with customers permitted to terminate their agreements within 14 days of receiving such notices. E-wallet top-ups via credit cards will no longer incur charges. The regulations establish new fee structures for cash withdrawals. For amounts below SR2,500, fees are capped at 3 per cent of the transaction value. Dubai residents can now instantly check credit scores online Dubai residents can now check their credit reports and scores directly through the DubaiNow app, thanks to a new integration with the Etihad Credit Bureau. The collaboration between Etihad Credit Bureau (ECB) and DubaiNow, the UAE's leading unified government services app, allows users to access their personal Credit Report and Credit Score in real time with a single click—simplifying financial planning and enhancing digital accessibility. DubaiNow offers more than 300 integrated services from both government and private sector entities. With the new feature, users can log in to the app and instantly view their credit insights—supporting informed financial decisions and streamlining access to key personal data. UAE real estate: 6 major hotspots to invest in right now, delivering 9% returns The UAE's real estate sector recorded transactions worth over AED 239bn (approximately $65bn) in the first quarter of 2024, according to official figures. Property consultancy Whitewill has identified six locations drawing investor attention during the summer period. According to the analysis, the market favours projects combining lifestyle, location, and financial returns. Indian Aces 2025: Meet the Gulf's most powerful Indian business leaders The Indian business community remains an indispensable pillar of the United Arab Emirates' economic architecture. These entrepreneurs, executives, and visionaries – many of whom are celebrated in our Indian Aces 2025 power list – have transformed industries across the Emirates. From retail and healthcare to technology and construction, these business leaders have created enterprises that form the backbone of the region's economic landscape. Dubai real estate: How to buy property for $545 – tokenization explained Dubai is reshaping access to real estate with a new government-backed platform that lets investors own a slice of the city's booming property market for as little as AED 2,000. By turning property into digital tokens, the initiative introduces a new model of ownership that aims to make real estate investment faster, more flexible, and more accessible — all within a regulated blockchain ecosystem. But, what exactly is Dubai real estate tokenization and how does it actually work? Ajman reduces work hours and launches remote work Fridays from July1 Ajman has unveiled a new plan with reduced hours and remote work on Fridays. The 'Balanced Summer' initiative for government employees is aimed at promoting work-life balance, family cohesion, and environmental sustainability during the summer months. The plan was approved during a meeting of the Ajman Executive Council chaired by Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman. Under the initiative, 100 per cent remote work will be in effect every Friday from July 1 to August 22, 2025. In addition, working hours from Monday to Thursday will be reduced to seven hours, running from 7.30 am to 2.30 pm across all government entities. UAE Ramadan and Eid 2026: Expected dates for Ramadan, Eid Al Fitr and Eid Al Adha announced Expected dates for Ramadan 2026 in the UAE have been announced by the Emirates Astronomy Society. The Emirates Astronomy Society forecasts Ramadan will begin on February 18, 2026, with Eid Al Fitr likely on March 20 and Eid Al Adha on May 27. Ibrahim Al Jarwan, chairman of the board of directors of the Emirates Astronomy Society, shared expected dates for holidays and events next year. UAE residents need nearly $1,800 monthly to become millionaires in 10 years, financial experts reveal The UAE's wealth creation ecosystem has produced some of the world's fastest-growing millionaire population, with specific strategies emerging for building seven-figure wealth. Anchored by zero personal income tax, 100 per cent foreign ownership rules, and $817 billion in non-oil trade, the nation has transformed into a magnet for entrepreneurs, investors, and high-net-worth individuals (HNWIs) seeking to drive their way to millionaire status But, how much can one build and save to hit AED1 million in the UAE? UAE Leave Guide 2025: Every type of holiday you're entitled to explained UAE workers will enjoy a public holiday on Friday, June 27, to mark the Islamic New Year — giving many a long weekend. But did you know there are nine official types of leave you're entitled to in the UAE? From annual holidays and sick leave to study breaks and maternity support, here's your full guide to every type of leave under UAE Labour Law in 2025.
