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Egypt Secures €690 Million for Grid Upgrade, Boosts Renewables

6/18/2026

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Summary

Story summary

Egypt secured €690 million from the European Investment Bank and European Commission to upgrade its transmission network.
The package, providing a €600 million loan and up to €90 million in grants covering 44 % of costs, will be managed by the Egyptian Electricity Transmission Company from 2027-2030.
The project, targeting 22 GW of renewables and 10 million households by 2030, is four times the €170 million loan to Morocco in May 2025, EIB Vice-President Gelsomina Vigliotti said.

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Story summary

Egypt secured €690 million from the European Investment Bank and European Commission to upgrade its transmission network.
The package, providing a €600 million loan and up to €90 million in grants covering 44 % of costs, will be managed by the Egyptian Electricity Transmission Company from 2027-2030.
The project, targeting 22 GW of renewables and 10 million households by 2030, is four times the €170 million loan to Morocco in May 2025, EIB Vice-President Gelsomina Vigliotti said.