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Economy, Energy

‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

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Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Jordan to supply Lebanon with electricity: Energy minister

Grids have formed the backbone of electricity systems for more than a century.
By TRENDS Desk
January 21, 2022 12:37 pm
  • Under the agreement, Lebanon will be provided with about 150 megawatts of electricity from midnight to 6 am, and 250 megawatts during the remaining hours
  • The project will benefit the Jordanian electrical system as Lebanon will be supplied directly from the Kingdom's power transmission networks

Jordan, Lebanon and Syria are scheduled next Wednesday to sign a transit agreement and a contract to supply Lebanon with part of its electrical energy needs from Jordan through the Syrian grid, Minister of Energy and Mineral Resources, Dr. Saleh Kharabsheh said on Wednesday.

Under the agreement, Lebanon will be provided with about 150 megawatts of electricity from midnight to 6 am, and 250 megawatts during the remaining hours, Kharabsheh pointed out.

The project, he said, will benefit the Jordanian electrical system, as Lebanon will be supplied directly from the Kingdom’s power transmission networks.

The minister added: “The selling price of electricity to Lebanon will not cause any losses to the Jordanian electrical grid, as the distribution cost will not be included in the selling price offer.”

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