Page 14 - AsiaElec Week 34 2022

AsiaElec NEWSBASE’S POWER ROUNDUP GLOBAL (NRG POWER) AsiaElec

NewsBase’s Power Roundup

Global [NRG Power]

POWER WELCOME to NewsBase’s Power Roundup REM: President Biden signs renewables-boost-
Global (NRG Power), in which the reader is ing IRA legislation
invited to join our team of international editors, President Joe Biden signed into law the Inflation
who provide a snapshot of some of the key issues Reduction Act (IRA) on August 16. The legisla-
affecting their regional beats. We hope you will like tion will boost the adoption of renewables and
NRG Power’s new concise format, but by clicking is slated to reduce climate emissions by 40% by
on the headline link for each section the full text 2030.“This bill is the biggest step forward on
will be available. climate ever,” said Biden after he signed the bill
at a ceremony in the White House.
AfrElec: Saudi Electricity borrows $568mn to
fund electricity interconnection project with ENERGO: Russia redirects discounted coal
Egypt from Europe to China and India in July
State-owned Saudi Electricity Company (SEC) Russian exporters managed to redirect all coal
has secured a financing facility worth $568mn to volumes from Europeto China and India in July
fund the Saudi-Egypt electricity interconnection 2022, as the supplies are sanctioned in the EU-
project, the company said in a statement posted ,Vedomostidaily reported citing a survey by the
on the stock exchange.The facility has a term of Energy Development Centre (EDC) and Kpler
14 years.In October 2012, both Egypt and Saudi data.Defying the sanction pressure, sea exports
Arabia signed a $1.8bn to establish an electrical of coal from Russia amounted to 16.45mn
interconnection to exchange 3.0 GW of power to tonnes (-0.6% month on month), with the ma-
help set up an infrastructure for electricity trade jority of coal shipped to Asia.
between Arab countries.

P14 www. NEWSBASE .com Week 34 24•August•2022