Arab Finance: The Egyptian Electricity Transmission Company (EETC) plans to invest EGP 36.8 billion in the fiscal year (FY) 2026/2027 to improve the national grid performance, Mona Rizk, the Chairperson of EETC, noted.
The announcement was made during the company’s general assembly meeting, chaired by Minister of Electricity and Renewable Energy Mahmoud Esmat, to approve EETC’s budget plan for FY 2026/2027.
Of the planned investments, 45.96% will be allocated to completing ongoing projects, while the remaining 54.04% will be directed toward new projects, replacement works, and the development of regional control systems.
Rizk also highlighted an expected increase in EETC’s fixed assets by the end of FY 2026/2027, supported by project additions valued at EGP 48.415 million during the budget year.
Earlier this month, EETC signed a power purchase agreement (PPA) with UAE-based renewable energy firm Alcazar Energy to develop a 407-megawatt wind farm in Zafaran. This followed another deal with Korra Energi and High Dam Electrical & Industrial Projects Co. (HIDELECO) for the third phase of the Orascom-Hawamdeya power line.
