The Clap
Egypt’s Ministry of Electricity received an offer from Italy for a joint project that could see investments of up to $2.8bn.
What
The project will see Egypt and Italy exchange between 2,500 to 3,000 megawatts as per the initial discussions between the two parties.
An MoU about the implementation of the electrical interconnection project between Egypt and Italy has been signed.
So What
The energy crisis in Europe has caused serious pressure on countries, with shortages in gas supplies pushing countries to look for other alternatives to secure electricity.
Now What
Italy will submit a project feasibility study to the Ministry before signing any final agreement.
