GEIDCO, GCCIA, and MWIE Signed Cooperation Agreement for Ethiopia-Gulf Region Interconnection Project -----GEIDCO Chairman Liu Zhenya's Visit to the UAE

GEIDCO, GCCIA, and MWIE Signed Cooperation Agreement for Ethiopia-Gulf Region Interconnection Project -----GEIDCO Chairman Liu Zhenya's Visit to the UAE

On January 12 local time, Global Energy Interconnection Development and Cooperation Organization (GEIDCO), the Gulf Cooperation Council Interconnection Authority (GCCIA), and the Ministry of Water, Irrigation and Electricity of Ethiopia (MWIE) signed a tripartite cooperation agreement in Abu Dhabi, the UAE, seeking to jointly promote power interconnection in Ethiopia-Gulf Region and accelerate the development of Global Energy Interconnection (GEI). Liu Zhenya, Chairman of GEIDCO, Ahmed Ali Al-Ebrahim, CEO of GCCIA, and Seleshi Bekele, Minister of MWIE, had tripartite talks and signed the agreement.

The three parties believe that power interconnection is crucial to the transition of energy mix. By building GEI and accelerating the power interconnection in Ethiopia-Gulf Region, it can not only boost the cross-border power transmission and trade, but also promote the expansion of economic corridor, closer exchanges and cooperation among relevant countries, and enhanced regional integration.

In recent years, GEIDCO has held frequent talks and exchanges with GCCIA and MWIE over the Ethiopia-Gulf Region interconnection project. Through consultation and collaboration, the three parties reached consensus on jointpromotion of the project implementation. According to the agreement, the three parties will set up a joint working group. Considering the status quo of the energy and power industry and development plans of Ethiopia and six membercountriesof the Gulf Cooperation Council (GCC), the joint working group will launch joint research regarding the necessity, economic benefit, business model, feasible power transmission paths, and other technical issues of the project. For next step, the group will specify the priorities of the projectimplementation and the potential of power transaction, and finish the prefeasibility study.

During his visit to the UAE, Liu Zhenya held meetings with leaders of the energy and power sectors, sovereign wealth funds, and research institutes of the UAE. They exchanged views and reached important consensus on issues like accelerating energy transition and sustainable development of the Gulf Region, building platform for financial and investment cooperation, and pushing for the construction of power grid interconnection projects.

Liu Zhenya briefed on the development concepts, implementation paths, and huge comprehensive value of GEI. He pointed out that as the Gulf Region sits at the intersection of Asia, Europe, and Africa and is blessed with abundant fossil energy and clean energy resources, it is of great importance for sustainable development of Gulf Region as well as global energy transition to accelerate the clean energy development in Gulf Region, push for interconnection among countries in Gulf Region and with surrounding regions,in a bid to promote the shift from gas-oil export to clean power export. Considering the energy resource endowment and development status of Africa, Liu Zhenya briefed on the concept ofAfrican Energy Interconnection, new thoughts onthe co-development of electricity, mining, metallurgy, industry, trade, and the establishment of African Energy Interconnection and Sustainable Development Alliance (AEISDA). These developments were highly praised by other parties.

H.E. Dr. Matar Hamed Al Neyadi, Undersecretary of the Ministry of Energy and Industry, UAE, said that Arab countries aremaking plans to push for regional power grid interconnection. He hoped that GEIDCOcould play a greater role in clean energy development and technical research, and promote the transmission of surplus power from Gulf Region to other countries, for win-win cooperation. H.E. Eissa Mohamed Al Suwaidi, Managing Director of the Abu Dhabi Investment Council,Musabbeh Al Kaabi, CEO of Petroleum & Petrochemicals of the Investment Committee of Mubadala Investment Company, Khadem AlRemeithi, Executive Director of Real Estate and Infrastructure Department of the Abu Dhabi Investment Authority, and Mohammed Ibrahim Al Shaibani, Chief Executive Officer of Investment Corporation of Dubai (ICD), all regarded GEI as an innovative and forward-looking initiative, and showed their appreciation and support for itsdevelopment. They said that China's successful practice in UHV technology makesthe transnational and intercontinental power interconnection possible, and they are willing to engage in deeper cooperation with GEIDCO to push for global clean energy transition and power grid interconnection. H.E.Saeed Mohammed Ahmed Al Tayer, Chief Executive Officer of Dubai Electricity And Water Authority (DEWA) and Waleed Salman, Chairman of Dubai Carbon Centre of Excellence, said that as the world is undergoing the transition in clean energy and sustainable development, they are ready to support the Belt and Road initiative, enhance the exchange and cooperationwith GEIDCO,to jointly advance low-carbon and green development.