The Saudi-Egyptian electricity interconnection project should start the testing phase of operations in May 2025, according to the head of the Egyptian Electricity Transfer Company (EETC), Sabah Mashaly.
In an interview with Asharq Business on Wednesday (October 19), Mashaly said that the first operational stage is scheduled for June 2025, with an initial capacity of 1,500MW. The second stage will start in November 2025, and will deliver an additional 1,500MW of power. The output surplus from the grid will be exported to neighboring countries, Mashaly said.
The interconnection project will support grid resilience and decarbonization objectives, as a large part of the generated power will be from renewable sources.
Egypt and Saudi Arabia signed the deal for the $1.8bn project in October 2012. Egypt secured its share in the project’s financing through $600mn of investment from Arab funds and various agencies. In August this year, the state-owned Saudi Electricity Company (SEC) secured an Islamic financing facility worth $568mn for its contribution to the scheme. The facility has a term of 14 years.