Saudi-Jordanian Committee Approves Feasibility of Connecting Power Grids

Power Station Saudi Arabia (Reuters)
Power Station Saudi Arabia (Reuters)
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Saudi-Jordanian Committee Approves Feasibility of Connecting Power Grids

Power Station Saudi Arabia (Reuters)
Power Station Saudi Arabia (Reuters)

A Jordanian-Saudi technical committee approved the feasibility of connecting the electric power grids of the two countries through a 170km transmission line, which is expected to be operational in 2022.

National Electric Power Company (NEPCO) Director General Amjad Rawashdeh said in a press conference on Monday that the two sides drew a preliminary timetable for implementing the project.

Studies show that the Saudi consumption of electricity during the daytime, especially in the summer, is higher than during the evening hours, Rawashdeh said, while in Jordan the opposite is the case.

In light of the introduction of solar power stations to Jordan’s grid, electricity consumption would exceed that of Saudi Arabia during the early hours, particularly during winter.

The Director-General indicated that exporting electricity to Saudi Arabia during the daytime is possible and would allow future and contracted renewable energy power stations to be established, provided that electrical power would be imported from Saudi Arabia after sunset.

The projected exchange of electric power will not hinder either country’s ability to meet its own power needs at any time of the day, the statement added but would achieve optimal exploitation of electricity generation resources in the two kingdoms.

Rawashdeh pointed that technical and economic feasibility studies for the planned power link revealed a complementary relation between the two grids, expecting the joint project to open the door for establishing a joint Arab electricity market that links Arab Gulf countries, Jordan, Egypt, Palestine, Syria, and Iraq.

He indicated that such a connection is important because it would reduce power production costs and reflect consumers’ electricity bills in both countries, stating that this is expected to have a positive impact on various sectors.

Rawashdeh also noted that the Jordanian-Saudi electric connection will increase the networks’ reliability, especially the Jordanian grid’s, as it is the smaller in terms of size and capacity.

The link would also minimize the risks of sudden blackouts in generating units or the fluctuations in renewable power stations, which are affected by weather conditions.

Earlier, Jordan’s Minister for Energy and Mineral Resources, Hala Zawati, suggested that increasing the Jordanian production of solar power would allow the country to export excess electricity to other countries during daylight hours.

She indicated that Jordan has since started exporting to Palestine and soon will be exported to Iraq after the completion of the electrical connection, asserting that Jordan is also willing to provide electricity to Syria and Lebanon if needed.



Saudi EXIM Hosts Global Risk Experts Meeting in Riyadh

The event gathered specialists from 47 organizations from 33 countries; it served as a platform for discussing strategies, partnerships, and innovative solutions. - SPA
The event gathered specialists from 47 organizations from 33 countries; it served as a platform for discussing strategies, partnerships, and innovative solutions. - SPA
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Saudi EXIM Hosts Global Risk Experts Meeting in Riyadh

The event gathered specialists from 47 organizations from 33 countries; it served as a platform for discussing strategies, partnerships, and innovative solutions. - SPA
The event gathered specialists from 47 organizations from 33 countries; it served as a platform for discussing strategies, partnerships, and innovative solutions. - SPA

The Saudi Export-Import Bank (Saudi EXIM) hosted the Berne Union's Country Risk Specialist Meeting, providing a platform for experts and thought leaders in risk management from the export credit community.
At the meeting, which took place from November 19 to 21 in Riyadh, the attendees exchanged best practices to better protect the industry amid shifting global dynamics.
According to a statement issued by the Saudi EXIM on Saturday, the event gathered specialists from 47 organizations from 33 countries; it served as a platform for discussing strategies, partnerships, and innovative solutions.
By strengthening institutional resilience, the industry is ready to turn global economic challenges into opportunities for economic prosperity, said the statement, adding that it played a crucial role in advancing global trade, strengthening international cooperation, and developing credit solutions that empower export activities while controlling risk, SPA reported.
According to the statement, discussions centered on critical risks impacting international trade and the global economy, such as debt sustainability and geopolitical tensions, along with innovative approaches to risk modelling. Participants also explored the global shifts in infrastructure, energy and critical minerals sectors, and were given an overview of Saudi Arabia's National Industrial Strategy, which focuses on economic diversification through investments, developing new sectors, and promoting local industries.
In his opening remarks, Saudi EXIM CEO Eng. Saad bin Abdulaziz Al-Khalb said the meeting is an ideal platform to address risks impacting global economic decision making.
He stated: "Through such meetings, we can turn challenges into strategic opportunities and enhance our resilience in an ever-changing world. At Saudi EXIM, we remain committed to enabling companies by offering expert financial and non-financial solutions to navigate risks effectively."
He also said that "at Saudi EXIM, we place great emphasis on risk management. In alignment with the main objective of this meeting, I am pleased to announce the completion of our independent country risk model, which is supported by advanced modelling tools and machine learning. This model will provide country ratings and predictions of default risks. We look forward to collaborating with our partners in other export credit agencies to exchange knowledge and expertise, and to strengthening our risk management functions with greater responsibility and effectiveness."
Associate Director at Berne Union Eve Hall said: "The global risk landscape today is highly volatile and highly interconnected. As we navigate our way around the ongoing transformations connected to energy transition and shifting industrial strategies, the traditional concept of 'country risk' is becoming increasingly complex. Our industry excels at understanding, quantifying and pricing these risks, and by bringing together this community of experts for technical exchange the Berne Union is able to help support the development of the industry as a whole. The initiatives announced by our colleagues at Saudi EXIM, making use of new technology in risk analysis, provide a fantastic example of where collaboration in this field can be effectively applied."
The statement disclosed that Saudi EXIM's membership in Berne represents a significant strategic step, and is consistent with the Kingdom's commitment to expanding collaboration and integration in the global economy.
This is achieved by building partnerships with leading institutions to address the challenges facing the export credit sector. It also aligns with the bank's goal of developing the export of national products and services through partnerships with national and international financial and funding organizations.
Berne Union works with global trade organizations to encourage the adoption of best practices in export credit insurance, and to cooperate in maintaining the stability of global trade.
Saudi EXIM, a development bank under the National Development Fund, contributes to diversifying the Kingdom's economic base by improving the efficiency of non-oil export ecosystems, bridging financial gaps, and minimizing export risks. This plays a role in helping the non-oil national economy grow, in line with Vision 2030.