Egypt to Integrate 22 GW of Renewable Energy Capacity by 2030 with Support from the EU and EIB
Share
The European Union and the European Investment Bank (EIB) will support the upgrade and expansion of Egypt’s electricity network through a financing package worth 690 million euros. Of the total amount, 90 million euros will be provided as grants by the European Commission, while the remaining 600 million euros will come in the form of an EIB loan.
The project aims to integrate a total of 22 gigawatts (GW) of renewable energy capacity into the national grid by 2030. It will be implemented by the state-owned Egyptian Electricity Transmission Company (EETC), and once completed, these capacities will be sufficient to supply electricity to around 10 million households.
According to the announcement, the programme includes the construction of new substations and the installation of advanced transmission lines. This will enable electricity generated by solar and wind power plants in the Red Sea and Gulf of Suez regions to be connected to the national electricity system.
More:
- New Study: Every Euro Invested in Wind Energy Returns Seven Euros to the European Economy
- Serbia Seeks US Partner for PSHP Đerdap 3 Project
- MEMO Brings North Macedonia Closer to the European Guarantees of Origin System
The investments are expected to help reduce transmission losses, improve the reliability of electricity supply and strengthen energy security. In addition, they will support regional cooperation and create opportunities for future trade and integration of clean energy across the Mediterranean.
The initiative represents one of the first concrete actions under the Trans-Mediterranean Renewable Energy and Clean-Tech Cooperation Initiative (T-MED), part of the Pact for the Mediterranean, which aims to strengthen cooperation between the European Union and its Southern Mediterranean partners.
The EIB-supported phase of the project will be implemented between 2027 and 2030.
Energy portal
