Egypt in talks with 3 global entities to link with European network for exporting 3,000 MW

Egypt starts negotiation with three major global entities to connect with the European network to exchange and export 3,000 MW, announced the Minister of Electricity Mohamed Shaker at Al Ahram Energy conference on Monday.

The European network will be through a maritime electrical link between three countries Egypt, Cyprus and Greece, Shaker mentioned.

Shaker noted that the country prioritizes the export of renewable energy in order to achieve economic development, secure energy, and transform Egypt into an energy hub and a power carrier on the European continent.

Egypt aims to add more than 100,000 megawatts within 10 years through signing 9 framework agreements to implement green hydrogen production, which reduce 37 million tons annually of harmful emissions, he said.

Egypt had implemented a $1.8 billion electrical connection project with Saudi Arabia, which would exchange 3,000 megawatts of electricity between the two countries.

Shaker highlighted that low-efficiency thermal power plants with high emissions have been replaced by renewable energy, where aging plants are being underestimated.

The electricity transmission grid needs to integrate 10 gigawatts requires investments of $2 billion, Shaker pointed out, talking about the future plan of electricity distribution companies for five years.