The trial run of the Saudi-Egyptian electricity interconnection project is expected to start by the end of May 2025, said the Chairman of the Egyptian Electricity Transfer Company (EETC), Sabah Mashaly.
The project will be officially operational in two stages; the first will be in June 2025 with a capacity of 1,500 megawatts (MW), and the second will be in November with a capacity of 1,500 MW, Mashaly revealed.
Mashaly stated that Egypt secured its share in the project’s financing with an amount of $600 million from a group of financing entities and Arab funds, adding that Egypt does not need any additional financing for the project.
She noted that works at lines and transformer stations are going according to the schedule agreed upon with Saudi Arabia, without any changes.
The top executive announced that any surplus in produced electricity in the Saudi-Egyptian grid will be exported to neighboring countries.
In October, Standard Chartered Bank, in collaboration with Sumitomo Mitsui Banking Corporation, unveiled that it arranged a $566.4 million Islamic financing supported by Export Credit Agency for Saudi Electricity Company to facilitate the Saudi-Egyptian electricity interconnection project.
