The European Union is preparing to sign a grant worth 90 million euros with the Egyptian government in the coming weeks, to accelerate the pace of modernizing the electricity network and enhance its ability to absorb the increasing capacities of renewable energy projects, as part of a broader strategy to support Egypt’s transformation into an energy center, according to Dr. Ahmed El-Beltagy, Head of the Transport, Energy and Climate Sector at the European Union Delegation in Egypt.
Al-Beltagy said, in an interview with Al Arabiya Business, that the grant, which is scheduled to be signed at the beginning of the third quarter of the year, will be disbursed over a period of between 3 and 4 years, ensuring the development of the infrastructure of electricity transmission networks and raising their operational efficiency.
The head of the Transport, Energy and Climate Sector at the European Union delegation to Egypt confirmed that the Union is currently conducting feasibility studies to develop 8 control centers for electricity distribution in Egypt in preparation for financing them with European grants, to accelerate the pace of transformation in the energy mix.
