Africazine: Major developments are on the horizon for Egypt’s energy sector as the country finalizes crucial negotiations with the European Union (EU) and the European Bank for Reconstruction and Development (EBRD). According to an unnamed senior government official cited by Asharq Business, Egypt is set to secure funding of up to €200 million for an ambitious power line project in the environmentally rich Gabal El-Zeit region.
This funding package is comprised of €165 million offered as a soft loan alongside a €35 million grant from the EU. Aimed at bolstering Egypt’s renewable energy initiatives, the financing will be directed towards the state-owned Egyptian Electricity Transmission Company (EETC), which will oversee the construction of an impressive 198-kilometer overhead power line. This infrastructure will play a pivotal role in transmitting electricity generated from innovative wind energy projects in the Gabal El-Zeit area.
What makes this initiative particularly exciting is its timeline; the project is expected to reach completion within just a year, marking a significant leap in Egypt’s commitment to renewable energy. As the sole entity responsible for electricity transmission in Egypt, EETC is essential for not only buying energy from both government and private producers but also selling it to distribution companies across the nation. Furthermore, the company plays a key role in managing interconnection projects with neighboring countries, enhancing regional energy collaboration.
It’s worth noting that last year, Egypt signed a strategic partnership agreement with the EU, securing €7.4 billion in grants and loans set to be released by the end of 2027. This partnership aligns seamlessly with Egypt’s broader objectives to transition towards clean energy and reduce reliance on fossil fuels, thereby setting a crucial precedent for sustainable energy practices across the region.
As the world increasingly focuses on sustainability and renewable energy solutions, Egypt’s advancements in harnessing wind energy not only represent a strong step forward for the country but also serve as an inspiring model for others in Africa and beyond.
Stay tuned for more updates as Egypt embarks on this transformative journey! For those interested in developments in renewable energy, electricity, and infrastructure, keep following our coverage.
