Egypt is set to advance its energy infrastructure with a €165 million sovereign loan from the European Bank for Reconstruction and Development (EBRD). The funds are designated for the state-owned Egyptian Electricity Transmission Company (EETC) and aim to bolster the country’s electricity transmission network.
The loan will finance two significant projects. Firstly, it will support the upgrade of a crucial 500 kV substation located in the Cairo governorate. This upgrade is essential for maintaining network stability and is directly linked to the completion of the Shoubra El Kheima gas-powered power plant. This initiative forms part of Egypt’s broader Nexus Water, Food & Energy (NWFE) program.
Secondly, the funding will be used to construct a 200 km high-voltage overhead transmission line. This new infrastructure will facilitate the transmission of approximately 2.1 GW of renewable energy from the Gulf of Suez region, where several wind energy projects are currently in development or construction.
The project has passed its final review and is awaiting approval, with a decision expected by September 25, 2024. The upgrades are anticipated to enhance Egypt’s capacity to integrate renewable energy and improve the overall reliability of its power grid.
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