Egypt and the European Investment Bank (EIB) are discussing cooperation across a number of areas, including advancing renewable energy development.
Egypt’s Minister of Electricity and Renewable Energy, Mahmoud Esmat, recently met with Guido Clary, the head of the EIB’s Cairo regional office, to explore this potential partnership.
According to the Ministry, discussions focused on identifying opportunities for collaboration across enhancing electrical connections with neighbouring countries, establishing distribution network control centres, supporting the development of a unified grid, and advancing projects in renewable energy.
Esmat outlined plans to further develop distribution networks, improve efficiency, and expand service offerings, and also highlighted the role of private sector involvement and government support in diversifying electricity sources. Advancing projects like the green energy corridor was also reportedly an area of discussion.
EIB’s regional head also expressed the EIB’s “eagerness” to expand cooperation with Egypt, particularly in increasing the contribution of solar and wind energy projects.
According to the Minister, Egypt is looking to increase its renewable energy output to 45,000 megawatts from projects currently under construction.