Luxembourg, 15 June 2026, dtt-net.com – A deal was signed today between the EU and Egypt, of which €600 million loan from the European Investment Bank (EIB) and €90 million in grants by the European Commission (EC) to help the country integrate a total of 22 gigawatts (GW) of renewable-energy capacity into the grid by 2030.
The project aims to supply around 10 million households with electricity, and is part of the last week EU- Trans-Mediterranean Renewable Energy and Clean Tech Cooperation (T-MED) initiative hoping to mobilize €25 billion of investments from private sector for renewable energy and clean technology in the Middle East and North Africa countries.
The initiative includes the aim of developing new renewable energy capacities in Algeria, Egypt, Jordan, Lebanon, Libya, Morocco, Palestine, Syria, and Tunisia, of which solar and wind power plants, and hydrogen production through electrolysis method are at central of the plans designed.
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