{"id":64229,"date":"2026-06-16T14:56:07","date_gmt":"2026-06-16T14:56:07","guid":{"rendered":"https:\/\/www.europesays.com\/britain\/64229\/"},"modified":"2026-06-16T14:56:07","modified_gmt":"2026-06-16T14:56:07","slug":"egypt-and-the-eu-agree-up-to-eur-690-million-to-modernise-national-electricity-grid-and-expand-clean-energy","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/britain\/64229\/","title":{"rendered":"Egypt and the EU Agree Up to EUR 690 Million to Modernise National Electricity Grid and Expand Clean Energy"},"content":{"rendered":"

\u00a0<\/p>\n

Egypt and the European Union (EU) have strengthened<\/a> their strategic partnership in renewable energy with a financing package of up to EUR 690 million (EGP 39 billion) aimed at upgrading and expanding Egypt\u2019s electricity transmission network on Monday, 15 June.<\/p>\n

The funding combines<\/a> a EUR 600 million (EGP 34 billion) loan from the European Investment Bank\u2019s development arm, EIB Global, with grants of up to EUR 90 million (EGP 5 billion) provided by the European Commission.<\/p>\n

Led<\/a> by the Egyptian Electricity Transmission Company (EETC), the programme is designed to modernise the national electricity grid while accelerating the integration of renewable generation.<\/p>\n

Moreover, the project seeks<\/a> to enable the connection of approximately 22 gigawatts (GW) of renewable energy capacity by 2030, a level expected to supply electricity for nearly 10 million households.<\/p>\n

As part of the initiative, state-of-the-art substations will be constructed and advanced transmission lines installed to bring solar and wind power from the Red Sea and Gulf of Suez regions into the national grid.<\/p>\n

Expected benefits of the upgrades include reduced transmission losses, improved electricity reliability, and stronger energy security, while supporting sustainable economic development.<\/p>\n

According to the programme structure, the EU\u2019s contribution represents<\/a> 44 percent of the total cost, with the remaining financing covered by EETC\u2019s own resources.<\/p>\n

The agreement builds<\/a> on a broader pipeline of EU-backed renewable investment in Egypt.<\/p>\n

It includes<\/a> projects such as the Obelisk solar Photovoltaic (PV) plant with battery storage, supported by EIB financing, as well as EU-grant-supported initiatives including the Nexus of Water, Food and Energy (NWFE) platform and the Green Economy Financing Facility, which aim to mobilise private-sector investment across renewables and energy efficiency.<\/p>\n


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