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In its Egypt Power Report published in Q1 2021, Fitch Solutions predicted that while demand for electricity will increase through 2024, power generation will continue to exceed total demand, creating opportunities for exports.
The Egyptian Electricity Transmission Company has been prioritizing investment in crossborder transmission interconnection projects with a goal of making the country a regional energy exchange hub. Egypt is currently connected with Iraq, Libya, Jordan, Palestine, Sudan, Syria, Turkey as well as countries of Eastern and Southern Africa.
The most significant active projects are the EuroAfrica and the Egypt-Saudi interconnector projects. The EuroAfrica electricity link will connect Egypt to Cyprus and Greece via Crete and Attica by December 2022, with a transmission capacity of 1,000 MW. The Egypt-Saudi interconnection project will link the two markets through a 3 gigawatt (GW) cable.