Kuwait Fund for Arab Economic Development Signs Grant Agreement with Gulf Cooperation Council Interconnection Authority for 200,000 Dinars

The Kuwait Fund for Arab Economic Development signed a grant agreement with the Interconnection Authority of the Gulf Cooperation Council (GCC) countries, under which the Fund provides a grant of 200,000 Kuwaiti dinars to finance the preparation of a feasibility study for interconnecting with power grids outside the GCC system.

The agreement was signed on behalf of the Interconnection Authority of the GCC countries by its Chief Executive Engineer Ahmed bin Ali Al-Ibrahim, and on behalf of the Kuwait Fund for Arab Economic Development by Acting Director General Rashid Ali Al-Badr.

The study aims to explore opportunities to expand the scope of GCC power interconnection to include power networks in neighboring countries, thereby enhancing electricity exchange and supporting regional cooperation in the energy sector. This will be achieved by assessing the electricity needs of neighboring countries and evaluating the feasibility of interconnection with them from both technical and economic perspectives. The study will also identify future expansion phases of the interconnection network, select the priority phase, and examine available alternatives to choose the most suitable one based on technical and economic criteria.

Additionally, the study will prepare a technical, economic, and environmental assessment of the proposed project, covering its key components, costs, implementation methods, and expected timeline, alongside an analysis of the economic and social benefits that can be achieved for member states and countries connected to the GCC system.