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The Egyptian Parliament has given its approval to an agreement connecting the power grids of Egypt and Saudi Arabia, the two biggest grid systems in the Arab region. The grid will link will enable a combined power generation capacity of the two countries of 90,000 MW. The endorsement by the Egyptian Parliament enables work on the project to start.
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Saudi Arabia and Egypt had originally signed the agreement in November 2015, with the project backed by a loan of $100 million from the Kuwaiti Fund for Arab Economic Development. The loan will carry a 2.5 per cent interest rate, and will be paid in instalments over 20 years, with a five-year grace period.
The Egyptian parliamentary report on the deal describes it as: “This landmark project will become a key hub in the Arab electricity grid.”
The Egyptian and Saudi Arabian grids will be linked via three stations, at the city of Badr in Egypt and the two Saudi cities of Medina and Tabuk.
During peak hours, the transfer between the two countries will be a maximum of 3000 MW.