Oman plans second GCC grid link
9 May 2023
Design work is under way for Oman’s second link to the GCC electricity grid, according to Oman Electricity Transmission Company (OETC).
The planned 400 kilovolt (kV) power transmission link is scheduled to start operations in the first quarter of 2026.
Oman’s first link with the GCC Interconnection Authority (GCCIA) became operational in November 2011.
It comprises a 200kV line connecting the Mahadha grid station in Al-Wasit in Oman to the Al-Oha grid station in Al Ain, UAE.
It is the third known project that aims to improve or expand linkages with the GCC grid. Projects are under way for an interconnection with Kuwait, as well as with Iraq.
The GCCIA Al-Fadhili high-voltage direct current (HVDC) converter station in Saudi Arabia itself is undergoing a major upgrade, which will enable the GCC states to exchange up to 1,800MW of electricity daily using the grid.
OETC bonds
OETC, part of the Nama Group, floated $600m of bonds with a tenor of 10 years and an interest rate of 5.8 per cent in February 2021. The issuance is OETC’s first in four years.
Proceeds from the issuance were designed to refinance existing loans, including the shareholders loan extended to OETC by Nama and State Grid Corporation of China. They will also fund OETC’s capital expenditure programme.
OETC manages the grid in northern Oman and Dhofar at voltages of 400kV, 220kV and 132kV. One of the major OETC capital expenditure programmes is the execution of the first phase of the 400kV North-South Interconnector project.
The bond proceeds will also be used for a 400kV project to connect a 1,000MW photovoltaic solar plant in the Wilayat of Manah, Governorate of A’Dakhiliyah, by 2024/25.
In December 2020, Nama awarded State Grid Corporation of China the contract for the privatisation of OETC. Nama divested 49 per cent of its shares in OETC to State Grid, which raised $1bn in capital.
Oman has been planning to sell several state-owned electricity companies as part of the sultanate’s objective to privatise its electricity sector and reduce subsidies.
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