Pan-GCC electric linkage to save $27 billion in 25 years
A pan-Gulf Cooperation Council electric linkage is expected to save the regional group a whopping $27 billion in operational and fuel expenses over the next 25 years.
Ahmed Al-Ebrahim, CEO of the GCC Interconnection Authority, said a recent study has proved that the project will help the six-nation grouping cut carbon emissions by 225 million tonnes.
In remarks published by Al Eqtisadiah, Al-Ebrahim noted that member states of the council have already achieved savings worth $214m, while the volume of imported energy through power-exchange operations were at 460GW.
He added that the study was presented at a meeting of GCC ministers of water and electricity held in Qatar recently, indicating that the ministers were briefed on the importance of expanding the current interconnection power grid to open broader scopes of cooperation in the power-supply domain.
He also spoke about plans to sell surplus power production to other countries that will enable revenue generation and the securing of a sustainable and stable power source.
($1 = AED3.67, at the time of publishing)