EETC seeks EUR 200 mn loan from EBRD for grid expansion

The European Bank for Reconstruction and Development (EBRD) is considering lending the Egyptian Electricity Transmission Company (EETC) up to EUR 200 mn for grid expansion, according to a bank statement. The loan will be used to finance part of EETC's plan to build and upgrade five high voltage substations in Upper Egypt, West Delta, Cairo, and Alexandria. The project aims to facilitate the integration of at least 450 MW of renewable energy capacity into the grid. The bank also says it would provide EETC and the Egyptian Electricity Utility and Consumer Protection Agency (Egyptera) with technical assistance to “help them comply with the requirements of Egypt's Electricity Law and facilitate transition to a liberalised and efficient market structure.”