Arab Finance: The Egyptian Electricity Transmission Company (EETC) has signed a memorandum of understanding (MoU) with the Norwegian renewables solutions provider Scatec ASA to conduct studies on the electricity interconnection project between Egypt and Europe via Italy, according to a cabinet statement on May 15th.

As per the MoU, Scatec shall obtain the approval of Italy’s grid operator and appoint an international consultant to detect sources of renewables that will be exported, decide upon the required infrastructure elements, and determine the subsea cable’s route and how it will be installed, EETC’s CEO and Managing Director Sabah Mashaly noted.

The project aims to export electricity from Egypt to Europe via a three-gigawatt (GW) subsea cable, she added.

The agreement comes within the framework of bolstering bilateral relations between Egypt and the European Union, especially in the field of renewables, Egyptian Minister of Electricity and Renewable Energy Mohamed Shaker said.

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