Egypt and Belgium Company Sign MoU to Evaluate Exporting Renewable Energy to Europe

Published on : 2023-11-20

Egypt took a significant stride towards bolstering its renewable energy industry as the Egyptian Electricity Transmission Company (EETC) inked a memorandum of understanding (MoU) with Belgian maritime infrastructure company Jan De Nul to evaluate an initiative to export renewable energy to Europe, according to an official cabinet statement on Thursday, 16 November.

The core of the project involves the installation of a subsea cable with a minimum capacity of two gigawatts, enabling the transmission of renewable energy from Egypt to Europe. The strategic move aligns with Egypt’s ambition to establish itself as a pivotal regional hub for renewable energy, further solidifying its role as an important partner to Europe.

Europe, grappling with energy insecurity following the Russia-Ukraine conflict, sees Egypt as a promising partner to address its energy needs. The Egyptian initiative comes at a time when the European Union (EU) is contemplating the inclusion of an electrical interconnection project linking Greece and Egypt in its list of Projects of Common Interest (PCIs). Such an inclusion would simplify funding procedures and facilitate necessary permits for the project.

Minister of Electricity and Renewable Energy Mohamed Shaker unveiled in September an ambitious national strategy that positions Egypt as a leading producer and exporter of green hydrogen, reinforcing its commitment to sustainable energy practices. Over the past year, Egypt has actively pursued foreign investment in green hydrogen, forging multiple MoUs with international entities.

In June, the Egyptian government updated its Nationally Determined Contributions (NDC), elevating its targets for reducing greenhouse gas emissions and underscoring Egypt’s dedication to environmental sustainability while securing the requisite financial backing.

Related Articles

Egypt seeks deferred payment in summer LNG tender, sources say

Egypt is seeking large volumes of gas from global markets this summer with deferred payments of up to six months, terms that market sources said would narrow the list of bidders and increase premiums at a time of high competing demand from Asia.

Read More

Government says extended power cuts to continue till the end of week

The Ministry of Electricity and Energy and the Ministry of Petroleum and Mineral Resources apologized to the Egyptian people on Monday for extending the recently introduced three-hour power cuts until the end of the week instead of on Sunday and Monday previously

Read More

El Molla Reviews GASCO's Operations Amid Increased Consumption Due to Heat Wave

Minister of Petroleum and Mineral Resources Tarek El Molla convened an extensive meeting at the National Gas Control Center of the Egyptian Natural Gas Company (GASCO) to monitor the operational process amid the ongoing heat wave, which has significantly increased gas consumption.

Read More
Wintershall Deaneptune LogoSIEnppipetrojetTransGlobe SCHNEIDER-ELECTRIChempleEgypt gasNorthAlmansooriSKY CTS exxonmobilSchlumberger