Arab Finance: Prime Minister Mostafa Madbouly witnessed the signing of a cooperation agreement between the Egyptian Electricity Transmission Company (EETC) and UAE-based K&K Investment Company to conduct final studies for the planned electricity interconnection project between Egypt and Europe through Italy, as per a statement.

Madbouly said the agreement aligns with the state’s efforts to make the best use of natural resources, particularly renewable energy, and to advance electrical interconnection with Europe.

For his part, Minister of Electricity Mahmoud Esmat said the Egypt–Europe interconnection is one of the key projects for exporting Egypt’s surplus renewable energy, with a planned capacity of up to 3,000 megawatts.

He added that the project supports energy transition efforts, reduces carbon emissions, and contributes to regional and international energy security.

The minister noted that the government continues to work on increasing the share of renewable energy in the power mix and reducing reliance on fossil fuels.

He added that the private sector plays a main role in renewable energy projects and that the agreement reflects investor confidence in Egypt’s technical expertise and investment environment.

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