Egypt and Italy advance electricity interconnection and investment ties

Egypt and Italy are working to accelerate the implementation of a 3,000 MW electricity interconnection project. During the first session of the Egyptian-Italian Joint Higher Committee in Cairo, Egyptian Minister of Electricity and Renewable Energy Mahmoud Esmat met with Italian Minister of Environment and Energy Security Gilberto Pichetto Fratin to discuss renewable energy partnerships and the technical, environmental, and financial studies required to link the African and European power grids.

Egypt aims to increase the share of renewable energy in its national energy mix to 45% by 2028, focusing on solar and wind projects through private sector involvement.

Parallel to energy discussions, the Egyptian-Italian Business Forum concluded with a focus on expanding economic and investment cooperation. Trade exchange between the two nations reached approximately 5.9 billion euros in 2025. Italy remains the fourth-largest source of foreign direct investment in Egypt, with cumulative investments totaling roughly 23.4 billion dollars between 2004 and 2025 via approximately 1,400 Italian companies. A cooperation protocol was also signed between the General Authority for Investment and Free Zones and Bank of Alexandria to facilitate services for investors.