Scatec + Norway-backed Europe electricity link? The CEO of Norwegian renewable energy developer Scatec proposed a new electricity interconnection project between Egypt and Europe in a meeting with Prime Minister Moustafa Madbouly last week, according to a cabinet statement. The project would be backed by the Norwegian government and would export power generated by renewable energy to Europe via a 3-GW link, according to the plan put forward by CEO Terje Pilskog.

What they said: “We look forward to exporting electricity from Egypt to Europe, and we have a ready MoU to sign with the Egyptian government in that regard,” the statement quotes Pilskog as saying. He said the project would help secure Europe’s energy resources from clean energy and backs the continent’s green transition plans.

More study needed, says electricity minister: Electricity Minister Mohamed Shaker said that the proposal will require further discussions, though he expressed willingness to cooperate with the company.

We make that five proposed Europe interconnectors: Egypt has been preparing to link its electricity grids with Greece and Cyprus through a subsea cable as part of the USD 4 bn EuroAfrica Interconnector project since 2018, while two direct Egypt-Greece links — the 3-GW Greece-Egypt Interconnector (GREGY) and the 2-GW Greece–Africa Power Interconnector (GAP) — are both being studied. Egypt and Italy are also discussing a separate 3-GW link and could sign MoUs for the project in June. Our grid is currently linked with Jordan, Palestine, Libya, and most recently Sudan, and will link up with Saudi via a 3-GW interconnection in 2025.

Europe is looking across the Med as it faces a future without Russian gas: The EU is looking to import electricity and secure new long-term gas supplies from Egypt following the loss of Russian gas last year.

REMEMBER- Scatec has emerged as a key player in Egypt’s energy sector, building the country’s first green hydrogen plant with Fertiglobe, Orascom Construction, and the Sovereign Fund of Egypt (SFE). The Norwegian company plans to sign a joint development agreement for a USD 5.5 bn green ammonia plant in Ain Sokhna with Egyptian Petrochemicals Holding Company (ECHEM) and state fertilizer company Mopco, according to Thursday’s statement.