Prime Minister Mostafa Madbouly on Sunday, June 14, 2026, attended the signing ceremony of a financing protocol to support projects aimed at strengthening and upgrading Egypt’s national electricity grid to accommodate growing renewable energy capacity. The agreement, signed by the Ministers of electricity, finance, and planning, provides EGP 60 billion in funding for the Egyptian Electricity Transmission Company to enhance its financial and operational capabilities.
Madbouly highlighted the government’s efforts to expand renewable energy projects and increase their contribution to the energy mix as part of Egypt’s green economy and sustainable development strategy. He stressed the importance of continuing investments in the national grid and transmission networks to absorb planned additions from renewable energy projects.
Minister of Electricity and Renewable Energy Mahmoud Esmat said grid modernization is an ongoing process designed to support new renewable generation capacity and meet rising electricity demand. He noted that accelerating solar and wind projects remains a priority, with Egypt targeting renewables to account for 45% of its energy mix by 2028, while ensuring a stable and reliable power supply for citizens and major development projects.
Minister of Finance Ahmed Kouchouk said the government remains committed to supporting the transition to renewable energy, including investments in electricity infrastructure, to secure sustainable energy supplies and encourage investment across productive, industrial, and export-oriented sectors.
Minister of Planning and Economic Development Ahmed Rostom described the protocol as an example of coordination between the state’s financial and investment policies, saying the EGP 60 billion allocation represents a strategic investment in infrastructure that will help attract domestic and foreign investments and support private-sector-led growth.