Page 11 - AfrElec Week 35 2022

AfrElec RENEWABLES AfrElec

Egypt seeks US, EU donor

financing to build 10GW

EGYPT EGYPT is seeking US, EU and other donor in Indonesia. The new initiative supported by
financing to build 10 GW of renewable energy the US and the EU is to be launched during
projects at a total estimated cost of $10bn to COP27 Climate Conference to be held in Sharm
replace 17 environmentally less friendly natural El-Sheikh in November of this year.
gas-powered electricity generators, Amwal Al Egypt is eyeing becoming an electricity pro-
Ghad newspaper reported. duction and transmission hub in the eastern
The announcement was made following a Mediterranean, taking advantage of the abun-
meeting between Egypt’s Minister for Environ- dance of solar and wind resources and its geo-
ment Yasmin Fouad and John Kerry, US Special graphic proximity to energy-hungry Europe. ™
Presidential Envoy for Climate on the sidelines
of a G20 meeting on environment being held

Egypt, Greece take further steps

towards power line

EGYPT
EGYPT and Greece took a further step towards construction of the cable and its related facilities
implementing the submarine power transmis- will take place in two phases. The first will con-
sion line project linking the power grids of both nect Cyprus and Egypt. The second will connect
countries when Egyptian President Abdel Fatah Cyprus and Greece. The actual construction
el-Sisi met Dimitri Kopilosis, chairman of the timeline for the interconnector route is antici-
Greek company responsible for project imple- pated to last between 12 and 24 months.
mentation. The planned EuroAfrica Intercon- The EuroAfrica Interconnector project, on
nector submarine power line project, purported the planning board since Egypt and Greece
to be the longest in the world and stretching signed a memorandum of understanding (MoU)
1,396 km underwater, is to transmit electricity to build a subsea cable in October 2021, took
generated from renewable energy sources from on greater urgency this year with a European
Egypt to Greece via Cyprus. energy crisis looming following Russia’s cutting
The project envisions establishing solar and off natural gas supplies to Europe in retaliation
wind energy projects that would generate a total for European sanctions imposed on Moscow for
of 9.5 GW of electricity to be transmitted to invading Ukraine.™
Europe via the EuroAfrica Interconnector. The

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