Korra Energi, an energy solutions provider, in alliance with High Dam for Electrical and Industrial Projects (HIDLECO), has been awarded the first and third lots of a pivotal Egyptian electricity transmission initiative. This Egyptian transmission project is designed to bolster the national grid’s capacity to integrate substantial amounts of renewable energy. The project involves the construction of 500-kilovolt extra-high-voltage overhead transmission lines, specifically aimed at linking burgeoning wind power facilities situated in the Gulf of Suez region to the existing national electricity network. The Egyptian Electricity Transmission Company (EETC) is overseeing this critical tender for the Egyptian transmission project, which aligns with the nation’s broader strategy to modernize its grid infrastructure and significantly enhance its ability to accommodate renewable energy sources.
Considered one of the most substantial electricity transmission projects currently underway in Egypt, the Egyptian transmission project boasts total investments estimated to be between EGP 12 billion and EGP 14 billion. The project has been strategically divided into eight distinct segments, attracting competitive bids from a range of prominent local and international entities and consortia. The consortium, including Korra Energi, will be responsible for the execution of the first lot under the agreement, which spans approximately 45 kilometers and is valued at around EGP 788 million, along with an additional $14 million.
Furthermore, the third lot encompasses a route of roughly 52 kilometers, with a contract value of approximately EGP 875 million, supplemented by $15 million. Both segments are slated for completion within a one-year timeframe, commencing after the finalization of all contractual procedures. Upon its conclusion, this expanded network is projected to facilitate the integration of over 2 gigawatts of electricity generated from new wind power projects in the Gulf of Suez.
Ayman Korra, CEO of Korra Energi, said “Winning the contracts marks a new strategic step that strengthens Korra Energi’s position in the energy and infrastructure sector and confirms our ability to seize quality opportunities that support business growth and the expansion of our project portfolio.”
“The project directly supports the state’s direction towards expanding renewable energy projects by linking new wind energy projects to the national electricity grid, which enhances energy security, raises the efficiency of the electricity system, reduces energy transmission losses, and supports the achievement of Egypt’s goals in the field of clean energy and sustainable development,” he added.
