Cairo: Minister of Electricity and Renewable Energy Mahmoud Esmat held talks with Chairman of UAE-based K and K Taj El-Din Mostafa Seif on the timeline for completing a 3,000-megawatt electricity interconnection project linking Egypt with Europe via Italy using submarine cables, as well as the measures required to launch implementation.
According to State Information Service Egypt, the project is part of Egypt's national energy strategy and aims to bolster the country's position as a regional energy hub and a key corridor for energy transmission and exchange among Africa, Asia, and Europe. Esmat emphasized that Egypt has adopted a strategic approach to supporting electricity interconnection projects and integrating its grid with those of neighboring countries, aligning with its strategy to connect with the European electricity grid.
Esmat stated that the strategy seeks to establish Egypt as a regional energy exchange hub and a bridge for transmitting and exchanging electricity across the three continents. He highlighted ongoing efforts to maximize returns from and ensure efficient management and utilization of renewable energy resources, stressing the sector's focus on expanding renewable energy use, reducing carbon emissions, and diversifying energy sources.
The Minister noted that these efforts are part of the state's strategy to increase the share of renewable energy in the electricity mix and reduce reliance on fossil fuels. He added that the private sector is a key partner in renewable energy projects, indicating growing confidence in Egypt's technical and human capabilities and its attractive investment climate.
The meeting reviewed progress on the final studies for the project under the cooperation and partnership agreement signed with the Egyptian Electricity Transmission Company. Participants were briefed on the project's implementation steps and proposed points for bringing the submarine cable ashore. The meeting also discussed the future of renewable energy, ways to maximize returns, and the optimal use of natural resources.