Egypt and the European Union are deepening their strategic partnership in the field of renewable energy with a financing package of up to €690 million ($801 million) to upgrade and expand the Egyptian electricity network. The package combines a €600 million ($696 million) loan from the European Investment Bank’s development arm, EIB Global, with up to €90 million ($104 million) in grants by the European Commission.
Led by the state-owned Egyptian Electricity Transmission Company (EETC), this project aims to integrate a total of 22 gigawatts of renewable-energy capacity into the grid by 2030, enough to supply around 10 million households with electricity.
The investment supports national energy priorities and the ambition to expand renewable energy, strengthen electricity infrastructure and enhance the country’s role as a regional energy hub. It also advances the objectives of the EU-Egypt Strategic and Comprehensive Partnership, including investment mobilizat
