Bahrain gets $100m Kuwait funding for 400kV project

Bahrain gets $100m Kuwait funding for 400kV project

Kuwait Fund for Arab Economic Development (KFAED) has signed a $100 million loan agreement with Bahrain to help finance the development of a 400-kilovolt (kV) transmission network in the kingdom, said a report.

The deal, which paves way for the partial funding of the expansion of the kingdom's electricity network, was inked at a key ceremony held yesterday (December 4) under the patronage of Shaikh Khalid bin Abdullah Al Khalifa, the Deputy Prime Minister and Chairman of the Ministerial Committee for Financial and Economic Affairs and Fiscal Balance.

The agreement includes financing for a portion of the 400 kV transmission network development project in Ras Legrain area besides the construction of 220/400 kV substations in Hidd, Umm Al Hassam and Riffa areas of the kingdom, reported Bahrain News Agency (BNA).

It also covers the installation of ground cables for connecting existing and new substations. These will greatly strengthen the kingdom's national grid and also contribute to achieving sustainable development goal (SDG No 7) on attaining clean energy at affordable prices, it added.

Minister of Finance and National Economy Shaikh Salman bin Khalifa Al Khalifa and the Minister for Electricity and Water affairs Wael bin Nasser Al Mubarak signed the agreement on behalf of the