The Egyptian government has allocated 60 billion Egyptian pounds to projects focused on strengthening and modernizing the national power grid to meet the increasing renewable energy capacity. This initiative is part of the country’s plan to transform its energy mix into a greener and more sustainable structure.
Prime Minister Mostafa Madbouly attended the signing ceremony of the protocol to finance projects in electricity and renewable energy. The protocol was signed by Minister of Electricity and Renewable Energy Mahmoud Esmat, Minister of Finance Ahmed Kouchouk, and Minister of Planning, Economic Development and International Cooperation Rania Al-Mashat.
60 Billion Pounds Support for the Grid
According to the protocol, the allocated funds will be used to strengthen the financial and operational capacity of the Egyptian Electricity Transmission Company. The aim is to implement grid expansion and modernization projects with this funding.
After the ceremony, Madbouly stated that the government continues its efforts to expand renewable energy projects and increase their share in the energy mix. He emphasized the importance of ongoing investments in the national power grid, transmission and distribution lines, and energy evacuation networks.
Accelerating Renewable Energy Goals
Mahmoud Esmat noted that the development and modernization of the national power grid is an ongoing process. He said these investments are necessary for the grid to absorb new renewable production capacity and meet the rising electricity demand.
The minister highlighted that grid expansion projects are critical for the stability and reliability of electricity supply and will also improve service quality nationwide.
Esmat added that efforts to commission solar and wind energy projects have been accelerated, with implementation schedules aligned to Egypt’s goal of raising the share of renewables in the electricity mix to 45% by 2028.
Securing electricity supply is also emphasized as a key factor to support major national development projects and advance economic growth targets.
Finance and Investment Dimension
Finance Minister Ahmed Kouchouk reiterated the ministry’s commitment to supporting Egypt’s renewable energy transition and investments in electricity infrastructure. He said strengthening the national grid will contribute to sustainable electricity supply for citizens and investors.
Kouchouk noted that this step will also enhance the competitiveness and attractiveness of sectors focused on industry, manufacturing, and exports. Planning Minister Rania Al-Mashat described the protocol as an example of alignment between the state’s financial and investment policies.
Al-Mashat stated that the 60 billion pound allocation is not just sectoral financing but a strategic investment in infrastructure and national projects. This investment is important for attracting domestic and foreign capital and encouraging stronger private sector participation in development initiatives.
Egypt continues to increase renewable energy production and modernize its electricity infrastructure as part of its long-term strategy. With this move, the government aims to strengthen energy security, support economic growth, and advance sustainability goals.
