The Egyptian cabinet approved an MoU signed with Norway in November to explore the possibilities of connecting Egypt’s electric grid with Europe via Italy, with a 3-gigawatt capacity.
Between the Egyptian Electricity Transmission Company (EETC) & the Norwegian Scatec Company, an MoU has been signed.
According to the Ministry of Electricity and Renewable Energy, Egypt achieved self-sufficiency for electricity in 2015 and has now a surplus of 25%.
Egypt will launch a campaign in 2022 to reduce electricity usage for export gas, which is expected to generate $450 Million per month and $4.5 Billion annually. Egypt’s Vision 2030 plan aims to produce 20% of its power from renewables by 2030, and 42% by 2035.
Egypt’s grid provides electricity to nearby nations, such as Lebanon, via Jordan, Libya and Sudan. Egypt and Saudi Arabia have the largest exchange of 3,000 MW in the region. Egypt is also looking to connect to Europe via a connection with Greece.