The EBRD is reviewing the provision of a sovereign loan of up to €165 million (around $173.8m) to Egypt to finance the upgrade and reinforcement of the electricity transmission grid. Renewables rollout onto the Egypt electricity grid is stymied by ageing infrastuctureThe project will be the first grid investment under a $2bn investment programme to be implemented by the Egyptian Electricity Transmission Company (EETC) under the NWFE initiative. It is meant to unlock Egypt’s renewable energy potential by unblocking one of the main obstacles holding back the roll-out of more renewables in the country. 60% of the loan will be used to finance the overhead transmission line, and the other 40% to finance the upgrade of the substations. Though, that overhead line is generally distant to residential areas.
