The next 25 years, the GCC grid to develop 33 billion United States dollars worth
Inning accordance with Dun & Bradstreet's report, the grid affiliation in between GCC nations will produce $ 33 billion in financial investment, financial and energy cost savings expenses for member states over the next 25 years.
The GCC Power Grid Department owns and handles the incredibly grid of interconnected nationwide power grids. It is reported that over the previous 3 years, the grid affiliation has actually conserved more than $ 1 billion to members of the GCC.
In 2016, the GCC electrical energy deal volume has actually reached 132 million megawatts, 5 of the 6 member nations associated with trading activities and signed 15 agreements.
The GCC Power Grid is presently establishing the electrical power market in the GCC location. To this end, the GCC Power Grid Department talks about electrical energy deals with the remainder of the world and has an excellent performance history in handling cross-border electrical power trade.
The GCC Power Grid Department is a joint stock business developed by all 6 member nations.
On December 31, 2001, GCC nations accepted establish GCC Power Grid to adjoin nationwide power grids. In 2002, the authorities through the work of personnel, prequalification work, work with experts to tender the job, to produce history.
In 2005, an overall of about 14 agreements were signed, amounting to more than $ 1 billion. The job begun in November 2005 and started operation in early 2009. The task is divided into 3 stages: the very first stage will be adjoined in Kuwait, Saudi Arabia, Bahrain and Qatar; the 2nd stage is the internal combination of the UAE and Oman power systems; the 3rd phase will connect the very first and 2nd stages.
The very first stage of the member states have actually been adjoined and have actually just recently been interchangeable. The GCC power grid company stated the future outlook will be in between GCC nations to run the marketplace, hence developing local electrical energy market deals.