Egypt and the European Union have announced a major €690 million investment package aimed at modernising and expanding the country’s electricity transmission network. The initiative combines a €600 million loan from EIB Global, the development arm of the European Investment Bank (EIB), with up to €90 million in grants from the European Commission.
The project, led by the Egyptian Electricity Transmission Company (EETC), is designed to support Egypt’s renewable energy ambitions by integrating 22 gigawatts of solar and wind power into the national grid by 2030. Once completed, the additional renewable energy capacity could provide electricity for approximately 10 million households.
The investment will strengthen Egypt’s electricity infrastructure through the construction of advanced substations and new transmission lines connecting renewable energy projects in the Red Sea and Gulf of Suez regions to the national network. These upgrades are expected to improve grid reliability, reduce transmission losses, enhance energy security, and support sustainable economic growth.
The project also reinforces Egypt’s position as a regional clean energy hub while advancing the objectives of the EU-Egypt Strategic and Comprehensive Partnership. As one of the first major initiatives under the Trans-Mediterranean Renewable Energy and Clean-Tech Cooperation Initiative (T-MED), the programme highlights growing cooperation between Europe and its Mediterranean partners in the transition to cleaner and more resilient energy systems.
Scheduled for implementation between 2027 and 2030, the project reflects a shared commitment by Egypt, the European Union, and the European Investment Bank to accelerate renewable energy development, strengthen regional energy cooperation, and support long-term sustainable growth across the Mediterranean region.
