The Egyptian Electricity Transmission Company (EETC) and the Belgian Jan De Nul Group signed a memorandum of understanding (MoU) with the aim of investigating methods to export renewable energy from Egypt to Europe.
The purpose of this agreement is to collaborate on preparations for a project that will export renewable energy to Europe through the Mediterranean, according to the Minister of Electricity and Renewable Energy, Mohamed Shaker.
Shaker added that the plan involves the use of a marine interconnection line with a minimum capacity of 2 gigawatts.
The signing of the MoU is part of the Egyptian government’s efforts to strengthen the energy partnership between Egypt and Europe, as highlighted by the Minister of Electricity.
As part of Egypt’s strategy to enhance renewable energy, a report released by the Ministry of International Cooperation in October outlined plans to implement renewable energy projects with a total capacity of 10 gigawatts, requiring investments of $10 billion over a five-year period. This initiative aims to replace 10 thermal power plants with a capacity of 5 gigawatts.
Furthermore, in October, Egypt’s Suez Canal Economic Zone (SCZone) signed several agreements to establish a new green ammonia and green hydrogen project during the 3rd Belt and Road Forum for international cooperation in Beijing, China. This move aligns with Egypt’s commitment to sustainable energy development.
Source: Egypt Today