Egypt to secure €200M for new power line project in Gabal El-Zeit
Updated 2/9/2025 10:31:00 AM
Arab Finance: Egypt is finalizing negotiations with the European Union (EU) and the European Bank for Reconstruction and Development (EBRD) to secure up to €200 million for launching a new power line in the Gabal El-Zeit area, an unnamed senior government official told Asharq Business.
The funding includes €165 million as a soft loan and €35 million as a grant from the EU.
The financing will be directed to the state-owned Egyptian Electricity Transmission Company (EETC) to build a 198-kilometer overhead power line that will transmit electricity generated from wind energy projects in the Gabal El-Zeit area.
The project is expected to be completed within a year.
EETC is the sole entity responsible for transmitting electricity in Egypt.
It purchases energy from both government and private producers and sells it to government distribution companies.
The company also oversees all electricity interconnection projects between Egypt and neighboring countries.
Egypt signed a strategic partnership with the EU last year for €7.4 billion in grants and loans to be disbursed until the end of 2027.
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