Egypt’s electricity minister, Dr. Mohamed Shaker, expected the first phase of the electricity interconnection project with Saudi Arabia to be completed within 36 months, to be completed within 52 months.
In an interview with Al-Arabiya, Shaker said that Egypt’s share amounts to 45% of the financing of the project, which cost 1.8 billion dollars, considering that the electricity connection project between Egypt and Saudi Arabia is a step towards an Arab market for electricity.
He revealed the signing of memoranda of understanding to study the electricity connection with Cyprus and Greece shortly To achieve the ambitions of connecting with Europe in future, explaining that Egypt has around 48 Megawatts of electricity available for export.
He added that the project is the culmination of the depth of Egyptian-Saudi relations throughout history and confirms the directives of the leadership of the two countries and confirms the leadership of the two countries in achieving the economic and social objectives of the countries of the Arab world.
He expressed the belief that the electricity link between Egypt and Saudi Arabia will be the core of a joint Arab link, as well as complementing and supporting the visions of both countries (2030).
He stressed that this project represents a strong connection between the two largest electricity grids in the region and will be reflected in the stability and increased reliability of the electricity supply between the two countries, in addition to the economic and development returns of the exchange a quantity up to 3000 megawatts of electricity.
He explained that, in light of the two countries’ ambitious plans to expand their dependence on renewable energy sources, this link represents a safety valve for the two power grids to address the nature of renewable energy instability. in general and requires large investments to deal with any resulting effects.
The contracts signed simultaneously between Riyadh and Cairo included contracts with three alliances of international and local companies, to carry out the interconnection project, which has a capacity of 3,000 megawatts, with 500 kV HVDC technology, and consists of the construction of three stations of transformation, East Al Madinah Station and Tabuk Station in the Kingdom and Badr Station in the east of Cairo, connected by transmission lines of approximately 1,350 km in length and 22 km of marine cables in the Gulf of Aqaba, with a total project cost of 1.8 billion dollars.
The award contracts were signed on the Saudi side by the designated CEO of the Saudi Electricity Company, Ing. Khaled bin Hamad Al-Qunun, and on the Egyptian side, by the president and CEO of the Egyptian electricity transmission company, Ing. Sabah Muhammad. Mashali.
Once operational, the project will achieve a series of common benefits for the two countries, including improving the reliability of national electricity grids, supporting their stability, optimizing available generation capacities. in these and the temporal differences in their peak electrical loads, and allow the two countries to achieve ambitious goals for the inclusion of renewable energy sources in the mix: the optimal production of electricity, the activation of the commercial exchange of electricity and the use of the line in optical fiber that accompanies the electrical interconnection line in the enhancement of communication networks and the transfer of information between the two countries, the Arab countries and neighboring countries, which will increase the economic return of the project.
Read More About: Business News
