Khaberni - The Egyptian Prime Minister Mostafa Madbouly witnessed the signing of a cooperation agreement between the Egyptian Electricity Transmission Company and the Emirati company "K&K".
The agreement aims to execute the final studies for the electrical interconnection project between Egypt and Europe via Italy, utilizing submarine cables.
The signing of the agreement comes as part of the state's strategy to enhance Egypt's position as a regional energy hub, support efforts to export clean energy to the European markets, in addition to expanding electrical interconnection projects with neighboring countries, particularly the interconnection with Europe; with the aim of transforming Egypt into a pivotal center for energy transfer and exchange between the continents of Africa, Asia, and Europe.
The agreement includes the preparation and implementation of the final technical, environmental, and financial studies for the project, and undertaking the necessary measures to start the implementation and electrical connection between Egypt’s national electricity grid and the unified European electricity network via the Italian electricity grid.
The Prime Minister emphasized that the signing of this agreement today comes within the framework of the state's focus on electrical interconnection with the European continent and maximizing the benefits from natural resources, especially sources of renewable energy generation, noting that this step represents a fundamental pillar in the efforts to enhance Egypt's position as a regional energy center.
On his part, the Minister of Electricity and Renewable Energy pointed out that the electrical interconnection with Europe is considered one of the strategic projects for exporting the surplus of renewable energy produced in Egypt to the European continent, with targeted capacities reaching up to 3000 megawatts, which contributes to supporting the energy transition efforts, reducing carbon emissions, and enhancing regional and international energy security.
The engineer Mahmoud Asmat clarified the significant importance that the electricity and renewable energy sector places on spreading the use of renewable energies, reducing carbon emissions, and diversifying energy sources, referring to the state's strategy aimed at increasing the contribution of renewable energy in the electricity energy mix, and reducing reliance on fossil fuels.
The minister added that the private sector is considered a main partner in renewable energy projects, indicating that this project reflects the growing confidence in the technical and human capabilities of Egypt, and the attractive investment environment provided by the electricity and renewable energy sector.
The agreement is an extension of the memorandum of understanding signed in October 2021, to lay an electrical cable transmitting 3 thousand megawatts of renewable energy generated from solar and wind energy projects in Egypt to Europe via Greece, targeting its implementation within between 3 to 4 years, according to press statements by the Minister of Electricity.
The electrical interconnection project to export electricity from Egypt to Europe is considered the largest and biggest due to the distance and the extension of lines between the two countries with a length reaching up to 900 kilometers, and it is expected that its capacities will range between 2000 and 3000 megawatts, according to the specific studies of the project.
