Egypt aims to export three gigawatts of renewable energy to Europe after inking the MoU with Norway's Scatec within the electricity interconnection project.
The MoU aims to launch a power linkage project between Egypt and Europe. It was co-signed by EETC Board Chairperson Sabah Mashaly and Scatec CEO Terje Pilskog. It will facilitate renewable energy exporting in the country.
The signing ceremony was attended by Prime Minister Mostafa Madbouli, Minister of Electricity and Renewable Energy Mohamed Shaker, and Norwegian Ambassador to Egypt Hilde Klemetsdal.
Upon signing, Shaker said that the MoU is part of efforts aimed at supporting and boosting vistas of cooperation between Egypt and the EU, with a special focus on the energy field and renewable energy in particular.
He continued: "The MoU is mainly contributing to cooperating and coordinating in exporting electrical energy to Europe via Italy".
On his part, Pilskog said Scatec company will lead activities to carry out the project and will be in charge of getting the funding from international finance institutions to fulfill the project.