Egypt allocates EGP 60bn to upgrade power grid and support renewable energy

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Prime Minister Mostafa Madbouly witnessed the signing of a protocol to allocate EGP 60bn for strengthening Egypt’s national electricity grid.

Prime Minister Mostafa Madbouly attended the signing of a protocol agreement allocating EGP 60bn to the Egyptian Electricity Transmission Company.

The deal was signed by Minister of Electricity and Renewable Energy Mahmoud Esmat, Minister of Finance Ahmed Kouchouk, and Minister of Planning Rania Al-Mashat.

The funding will modernise the grid to integrate growing solar and wind capacity while meeting rising demand.

Madbouly noted the move aligns with plans to reach 45% renewable energy in the electricity mix by 2028.

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