GCCIA and QDF Finalize Landmark Energy Project for Oman
Deal News | Feb 14, 2025 | Zawya
Under the auspices of Oman's Minister of Energy and Minerals, the Gulf Cooperation Council Interconnection Authority (GCCIA) and the Qatar Development Fund (QDF) have signed a landmark financing agreement to connect the GCCIA network with Oman. The project comprises two 400 kV overhead transmission lines and two substations, promising better energy integration among GCC nations. Estimated to transmit 1,200 MW of power, it counters the need for new power plant constructions and aims to reduce carbon emissions. The agreement enhances energy reliability and supports sustainable development goals by fostering a collaborative electricity market in the Gulf.
Sectors
- Energy Infrastructure
- Renewable Energy
Geography
- Sultanate of Oman – The project will establish direct power grid connections involving transmission lines and substations within Oman.
- Gulf Cooperation Council (GCC) Countries – The agreement involves multiple GCC countries as it is part of a broader strategy to integrate their electricity systems.
- Qatar – The Qatar Development Fund is a key participant funding the project as part of its broader regional investment initiatives.
Industry
- Energy Infrastructure – The article focuses on a major infrastructure project for power grid connections involving energy transmission lines and substations.
- Renewable Energy – The project aligns with efforts to incorporate renewable energy sources into regional grids, supporting sustainable energy development.
Financials
- Over 1 billion USD – The estimated investment into current GCC energy integration projects, including those connecting Oman, Kuwait, and the UAE.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Gulf Cooperation Council Interconnection Authority (GCCIA) | Project Lead | Company | Spearheads interconnection strategies for electricity networks across GCC countries, with a mission to ensure reliable energy supply. |
| Qatar Development Fund (QDF) | Financier | Company | Provides financial backing, facilitating economic growth and development through strategic investments in infrastructure. |
| His Excellency Eng. Salim Al Aufi | Minister of Energy and Minerals, Oman | Government | Plays an officiating role by endorsing the partnership agreement on behalf of Oman's government. |
| His Excellency Mohsin Al Hadhrami | Chairman of GCCIA and Undersecretary, Ministry of Energy and Minerals, Oman | Government | Oversees the GCCIA board and plays a key role in strategy and policy alignment with Oman's energy objectives. |
| His Excellency Sheikh Mubarak bin Fahad Al Thani | Ambassador of Qatar to Oman | Government | Represents Qatar's diplomatic and strategic interests in Oman during the agreement's formal ceremony. |