Latest news with #energyintegration
Zawya
2 days ago
- Business
- Zawya
Kuwait Fund for Development drives regional shift toward clean energy through Gulf power interconnection expansion
Kuwait City – The Kuwait Fund for Arab Economic Development has announced that the expansion of the Gulf Power Interconnection Project, launched in December 2022, constitutes a strategic milestone in advancing energy integration across the GCC. By enhancing electricity exchange efficiency and ensuring long-term sustainability, the initiative stands as a pivotal investment in the region's clean energy future. Acting Director General of the Kuwait Fund for Arab Economic Development, Mr. Waleed Al‑Bahar, reiterated that Kuwait remains the primary economic beneficiary of the project. The new Al‑Wafra 400 kV Station will augment Kuwait's national grid capacity by approximately 2,500 megawatts, fortifying supply during peak demand and enhancing grid stability. Financing is delivered via two loans from the Kuwait Fund to the Gulf Interconnection Authority, totalling KWD 70 million (USD 224 million). Crucially, the Al‑Wafra station and its link to Saudi Arabia are on track for completion by December 2024, enabling Kuwait to significantly advance energy resilience and regional connectivity. The Kuwait–Iraq interconnection (Al‑Wafra–Al‑Faw) is expected to be operational by May 2025, supporting expanded network capacity and cross-border energy exchange. The project is slated to begin operations by the end of 2024, with full readiness across the GCC–Iraq axis anticipated by 2026. Mr. Al-Bahar further emphasized that the project underpins environmental goals by facilitating clean energy distribution and enabling electricity trade within the GCC and neighbouring regions, leveraging surplus capacity to generate long-term economic returns while reducing emissions. Kuwait's involvement in the southern Iraq expansion positions the nation as a central hub for regional electricity trade, reinforcing ambitions around energy security, efficiency, and resilience, while reaffirming its leadership in regional energy integration strategy. Technical Scope and Infrastructure Al-Wafra 400 kV Station – A new high-capacity substation in Kuwait, central to the expanded grid infrastructure. 400 kV Double-Circuit Overhead Transmission Lines connecting: Al-Wafra (Kuwait) ↔ Al-Fadhili (Saudi Arabia) – completion: December 2024 Al-Wafra ↔ Sabah Al-Ahmad '3Z' & '4Z' (Kuwait internal grid) Al-Wafra ↔ Al-Faw (Southern Iraq) – completion: May 2025, approximately 295 km span Start of Operations – By end of 2024, with full readiness across GCC and Iraq by 2026 About the Kuwait Fund for Arab Economic Development The Kuwait Fund For Arab Economic Development is the first institution in the Middle East that took an active role in the international development efforts. The Kuwait Fund extends Loans on concessionary term to finance development projects in the developing countries. The Fund also provides technical assistance to finance the costs of the feasibility studies of projects, as well as the training of nationals of the borrowing countries. In addition, the Fund subscribes in the capital of international and regional development institutions. Today, the Kuwait Fund forms a solid bridge of friendship and solidarity between the state of Kuwait and the developing nations. For more information:
Malay Mail
22-05-2025
- Business
- Malay Mail
Malaysia to lead Asean power grid integration with Vietnam-Singapore link, says Anwar
PUTRAJAYA, May 22 — Malaysia will spearhead the first phase of an ambitious regional power grid integration plan, beginning with an economically viable connection between Vietnam, northern Malaysia and Singapore, said Prime Minister Datuk Seri Anwar Ibrahim. 'In the first phase, what is deemed to be more economically viable is to connect Vietnam to northern Malaysia and the south, and then link it into Singapore through our National Grid,' he said, noting that Petronas could be assigned a leading role in implementing this segment of the project. Future phases, Anwar said, will extend the regional grid to include Cambodia, Thailand and Sarawak — leveraging the east Malaysian state's strength in alternative energy sources such as gas. 'This opens the possibility of delivering energy to Kalimantan, where Indonesia's new capital is situated, and even to the southern Philippines,' he said. Anwar said this during a briefing session, which included discussions on the ASEAN 2025 Summit, with editors from local and international media organisations at the Seri Perdana Complex here. Also present were Malaysian National News Agency (Bernama) chief executive officer Datin Paduka Nur-ul Afida Kamaludin, Bernama editor-in-chief Arul Rajoo Durar Raj, and executive editor of Bernama economic news service Saraswathi Muniappan. Anwar elaborated that the plan underscores Malaysia's leadership in driving ASEAN's energy cooperation and integration, aligning with its 2025 ASEAN Chairmanship goals of economic resilience, regional connectivity, and sustainable development. A key enabler of this expanded energy vision, Anwar said, is the resolution of long-standing jurisdictional issues between national oil company Petroliam Nasional Bhd (Petronas) and Sarawak's state energy firm Petroleum Sarawak Bhd (Petros). Earlier today, the Federal Government and the Sarawak State Government signed a joint declaration at Perdana Putra, marking a milestone agreement on energy cooperation between Petronas and Petros. The declaration was signed by Anwar and Sarawak Premier Tan Sri Abang Johari Tun Openg. Anwar said the agreement reflects mutual recognition of key legal frameworks, with Sarawak accepting the Petronas Development Act (PDA) 1974, and Petronas acknowledging Sarawak's Distribution of Gas Ordinance (DGO) 2016 and its by-laws, effectively positioning Petros as the gas aggregator for the state. Under the understanding, Petronas will continue fulfilling its international obligations, while new operations in Sarawak will require commercial agreements that safeguard the state's domestic supply needs. 'It is only fair for the Sarawak government to ensure gas supply for its people is guaranteed,' Anwar said. He also praised the Sarawak leadership, especially Premier Abang Johari, for taking a pragmatic and constructive stance throughout the negotiations. 'To be fair to Sarawak Parties Alliance (GPS) and the Premier, he has never been unreasonable. He allowed negotiations to proceed and respected the roles of both entities. That's what allowed us to reach this understanding,' he said, adding that although the deal may be viewed as controversial in some quarters, the spirit of consensus must prevail. 'There's a national company and a state company. One is owned by the federation, one by the state. We must work together, and I represent not only Malaya but also the interests of Sarawak. Give it some time — wisdom and sanity will prevail. I think that's working,' he expressed hope. As the chair and host of ASEAN 2025, Malaysia will host the 46th ASEAN Summit and Related Summits at the Kuala Lumpur Convention Centre (KLCC) from May 26 to 27. In conjunction with the summit, two key high-level meetings — the 2nd ASEAN-Gulf Cooperation Council (GCC) Summit and the ASEAN-GCC-China Summit — will also take place, marking an important platform for expanded regional and inter-regional cooperation. — Bernama
