Egypt Secures LE60 Billion for Renewable Energy Grid Upgrade
Egypt is investing LE60 billion to enhance its electricity grid, aiming for 45% renewable energy by 2028. This initiative supports the transition to a green economy and sustainable development.
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The Egyptian government has allocated LE60 billion to modernize the national electricity grid, enabling an increase in renewable energy capacity. This funding, aimed at the Egyptian Electricity Transmission Company (EETC), supports critical grid expansion projects necessary for achieving the goal of 45% renewable energy in the electricity mix by 2028.
Prime Minister Mostafa Madbouly, alongside key ministers, emphasized the importance of this investment for sustainable energy supplies and national development. The protocol represents a strategic approach to integrate financial and investment policies, enhancing the grid's reliability and service quality. This initiative also aims to attract domestic and foreign investments, fostering private sector involvement in the energy transition.
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