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EBRD Supporting Access to Renewable Energy in Egypt

Power News - Published on Tue, 03 Dec 2019

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The EBRD is supporting the development of a more resilient and robust electricity grid across Egypt with a EUR 182.9 million loan to the Egyptian Electricity Transmission Company to strengthen the transmission network in the country. The EBRD funds will facilitate the integration of 1.3 GW of new renewable energy into the Egyptian electricity system by connecting new renewable energy plants, with the help of new or refurbished high-voltage substations. In addition, the investment will help in reducing electricity losses, thus saving 77,000 tonnes of CO2 emissions per year.

The EBRD will also assist EETC and the electricity regulator in designing and structuring a regulatory framework for private-to-private projects, developing a new channel for the growth of the private renewable sector, which will further improve the sector’s competitiveness. This is linked to the electricity law that was passed in 2015, which sets out a roadmap for the liberalisation and reform of the power sector, driven by the government’s aim to generate 20 per cent of Egypt’s energy from renewable sources by 2022.

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Posted By : Rabi Wangkhem on Tue, 03 Dec 2019
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