Egypt, France and the European Union (EU) have signed nine financing and grant agreements worth €262.3 million to implement priority projects in Egypt’s water treatment, sanitation, renewable energy, and railway sectors.
The financing agreement for the Alexandria Regional Control Center Project was signed by Egypt’s Minister of Electricity and Renewable Energy, Mahmoud Esmat, and the Minister of Planning and Economic Development and International Cooperation, Rania Al-Mashat.
Also signing were Mr. Jean-Noël Barrot, French Minister for Europe and Foreign Affairs, and Mr. Rémy Rioux, Director General of the French Development Agency (AFD).
Minister Esmat and Mr. Éric Lombard, France’s Minister of Economy, Finance, Industrial and Digital Sovereignty, also witnessed the signing of the contract for the construction and implementation of the Electrical Control and Distribution Center in Sharm El-Sheikh.
The agreement was signed by Eng. Gaber Desouky, Chairman of the Egyptian Electricity Holding Company, Mr. Sébastien Rieh, Head of North Africa, Egypt, and the Levant Cluster at Schneider Electric, and Mr. Pierre Grosgerga, Vice President of the DCC Program at Schneider Electric.
The construction of the control center will be executed by Schneider Electric.
Speaking at the signing ceremony, Minister Esmat said Egypt is open to investments in critical sectors of its economy.
“We are keen to attract new investments to benefit from modern technologies in research, development, and renewable energy.
“We aim to enhance energy sustainability and provide clean and safe energy solutions to improve electricity supply quality and ensure continuity of power”.
She also highlighted the improved Egyptian-European relations, particularly after they were elevated to a strategic partnership last year.
Regional control center projects
A concessional financing agreement for €50 million from the French Development Agency (AFD) and a €10 million grant from the European Union were signed for the Regional Control Center Project in Alexandria.
The EU grant will be managed by the AFD for the benefit of the Ministry of Electricity and Renewable Energy.
The project is part of Egypt’s Nexus of Water, Food and Energy (NWFE) programme.
The project seeks to provide stable, high-quality electricity supplies to residents of Alexandria and modernise the electricity grid’s control facilities in one of Egypt’s most densely populated areas.
It aims to support Alexandria in becoming a regional energy hub, addressing increased energy generation, rising demand, the integration of renewable energy sources, and network expansion.
