The European Commission has announced two projects in Egypt worth a total of €124.3 million, aimed at advancing renewable energy in the country. €34.3 million will support the Sokhna Green Ammonia project, to accelerate the development and deployment of green hydrogen and related renewable energy initiatives. The other €90 million will contribute to the Egypt Grid Modernisation and Expansion programme, which intends to help Egypt meet its 2030 renewable energy target by adding 22 GW of clean energy to the country’s grids.
Mediterranean Commissioner Dubravka Šuica said: “The Mediterranean has vast, untapped renewable energy potential. We will soon launch T-MED, our key initiative under the Pact for the Mediterranean, to support our partners through win-win investments that attract private funding and strengthen cooperation across the region. By helping projects move forward and making investments safer, we are unlocking major opportunities, while building stronger links between countries.”
The projects will be implemented under the upcoming Trans-Mediterranean Renewable Energy and Clean-Tech Cooperation Initiative (T-MED) initiative of the Pact for the Mediterranean. They are being presented today at the ‘Egypt’s Sustainable Energy Outlook 2040: Cooperation for Shared Prosperity‘ conference in Cairo, co-hosted by the EU and the Egyptian government which are currently developing strong cooperation in the field of renewable energy under the EU-Egypt Strategic and Comprehensive Partnership Agreement.
The Pact aims to mobilise large-scale private investments through the upcoming T-MED Investment Platform, to unlock the renewable energy potential of the region with high-impact projects in the renewable energy, electricity grids and clean tech manufacturing sectors.
