The Egyptian Electricity Transmission Company (EETC) and the Belgian maritime infrastructure company Jan De Nul signed a MoU on Thursday to study the feasibility of exporting renewable energy to Europe, the cabinet announced in an official statement.
The project’s main component is a subsea cable that can transmit at least two gigawatts of renewable energy from Egypt to Europe. This strategic step supports Egypt’s vision to become a key regional centre for renewable energy and strengthen its partnership with Europe.
Europe looks to Egypt as a potential ally to meet its energy demands, as the Russia-Ukraine conflict threatens its energy security.
Meanwhile, the Egyptian initiative coincides with the EU’s consideration of adding an electrical interconnection project between Greece and Egypt to its Projects of Common Interest (PCIs) list. This would make it easier to fund and permit the project.
In September, Minister of Electricity and Renewable Energy Mohamed Shaker announced an ambitious national strategy that aims to make Egypt a major producer and exporter of green hydrogen, showing its dedication to sustainable energy practices.
Egypt has been seeking foreign investment in green hydrogen over the past year, signing several MoUs with international entities.
Furthermore, the Egyptian government updated its Nationally Determined Contributions (NDC) in June, elevating its goals for cutting greenhouse gas emissions and highlighting Egypt’s commitment to environmental sustainability while securing the necessary financial backing.