Egypt, the European Union and European Investment Bank have reached two new clean energy agreements. The agreements are a part of the T-MED initiative and the Pact for the Mediterranean, which seek to promote green growth and increase the use of renewable energy.

Under one agreement, the Ain Sokhna Green Ammonia project will receive €34.3 million. The money will accelerate the development of green hydrogen and renewable energy sources and help draw in additional funding.

Egypt's electrical grid will be upgraded and expanded with an additional €90 million investment. This will enhance the nation's power supply and enable the system to handle more renewable energy.

These initiatives help Egypt meet its 2030 renewable energy target of 22 gigawatts. Additionally, they enhance collaboration between Egypt and its European allies in order to have a better sustainable future