Egyptian Electricity Transmission Company (EETC) signed on Thursday a deal to establish a transformer station worth 210.8 million pounds (US$27.6 million) in the Suez Canal region, as the country gears up for the summer, chairman Ahmed Hanafi announced.
The project will be funded by partners headed by the European Union’s European Investment Bank (EIB).
Hanafi said, in a statement by the Electricity Ministry, that the new project aims to meet the expected increase in electricity consumption next summer.
Egypt has been facing an energy crisis for years, with power outages surging in the summer.
Egyptian authorities have often owed the power crisis to a larger fuel crisis and have been taking measures in recent months to diversify sources of energy.
The government has turned to renewable energy such as solar and wind energy. The state has also passed legislations allowing the generation of energy from coal, despite environmental concerns.
Source: Aswat Masriya