Arab Finance: An Egyptian-Emirati alliance is investing approximately EGP 20 billion to construct a new 500-kilovolt power transmission line that will carry electricity generated from renewable energy projects in the Gulf of Suez to the Hawamdiya substation south of Giza, an unnamed government official told Asharq Business.
The alliance is led by Egypt- and UAE-based Intelligent Globe Construction Group, with the project expected to be completed within approximately 30 months. Once operational, the new transmission line will strengthen Egypt's electricity grid by increasing its capacity to accommodate additional power generated from solar and wind projects in the Gulf of Suez.
The investment aligns with Egypt's broader efforts to expand its electricity transmission network and substations to support its renewable energy strategy, which targets increasing the share of renewables in the country's electricity mix to 45% by 2028. Over the past decade, Cairo has invested approximately EGP 965 billion in electricity generation, transmission, and distribution projects.
