RIYADH: In a bid to bolster regional connectivity, the Gulf Electricity Interconnection expansion project has secured a $570 million loan from the Kuwait Fund for Arab Economic Development (KFAED).
This initiative is a pivotal component of the Gulf Cooperation Council Interconnection Authority’s (GCCIA) overarching strategy to tackle energy-related hurdles confronting its member states, including Iraq.
The primary goal of this project is to realize substantial technical and economic advantages by augmenting the capacity, efficiency, and dependability of the electrical networks within the Gulf Cooperation Council (GCC) nations.
Kuwait, in particular, stands to gain significantly as one of the principal beneficiaries of this undertaking, as it will see an additional 2,500 megawatts of supporting capacity integrated into its electricity grid, further fortifying the nation’s power infrastructure.
