Egypt approves MoU with Norway to explore connecting electricity grid to Europe

The Egyptian cabinet has approved an MoU with Norway, signed in November, to explore the possibility of connecting Egypt's electricity grid to Europe through Italy with a capacity of 3 gigawatts.

The MoU was signed between the Egyptian Electricity Transmission Co (EETC) and the Norwegian Scatec Company.

With an electricity production increase of over 30,000 MW in six years, Egypt has achieved surplus levels for the first time, reaching self-sufficiency in electricity in 2015 and now having a 25% surplus, according to the Ministry of Electricity and Renewable Energy.

In 2022, Egypt launched a campaign to reduce power usage to export gas savings, generating $450M monthly and $4.5B yearly. Egypt aims to generate 20% of its electricity from renewables by 2030 and 42% by 2035, as per its Vision 2030 plan.

Egypt's electric grid currently provides power to neighboring nations such as Lebanon through Jordan, Libya, and Sudan. The region's largest connection between Egypt and Saudi Arabia exchanges 3,000 MW, with Egypt also aiming to connect its network to Europe through a connection to Greece.