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FINANCIAL NEWS
GCC unified electricity grid 2nd phase done
25 Apr 2011
(MENAFN) Ruler of Dubai, His Highness Shaikh Mohammad Bin Rashid Al Maktoum, launched the second phase of the GCC Grid Interconnection Project, which connects the electricity grids in GCC countries together, reported Gulf News.
Shaikh Mohammad said that countries connected to the grid could cut electricity costs by to USD5 billion.
Connected GCC countries would be able to trade and exchange energy as well as support one another in case of interruptions.
On a separate note, Shaikh Mohammad said that he is working on increasing electrical power output in the UAE to supply the growing demand for electrical power.
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