CAIRO – 30 April 2025: Egypt’s Deputy Minister of Electricity and Renewable Energy, Sabah Mashaly, announced that the European Union will contribute with €10 million to cover half of the €20 million feasibility study cost for the Egypt-Greece electricity interconnection project.
Speaking to Al-Borsa during the American Chamber of Commerce conference, Mashaly provided updates on Egypt’s growing regional energy projects. She confirmed that the first phase of the Egypt-Saudi Arabia interconnection, supplying 1,500 megawatts, is slated to launch by next summer, with the second phase—bringing the total to 3,000 megawatts—expected to follow before year-end.
Mashaly also highlighted Egypt’s ambitious renewable electricity export initiative, which is poised to attract $15–20 billion in investments. Initial assessments have been completed, and the government is moving forward with detailed feasibility studies in partnership with UAE-based K&K.
Regarding the national power grid, the ministry is currently exploring private sector participation, provided it does not jeopardize national security. Mashaly noted that this cautious approach is globally recognized, citing France as an example of a country that re-nationalized part of its electricity network after partial privatization.
To support solar energy scalability, the ministry aims to deploy energy storage systems with a combined capacity of 3,500 megawatts. Currently, 300 megawatts of battery storage have already been installed.
Wed, Apr. 30, 2025
