en.Wedoany.com Reported - The European Commission has recently approved several clean technology support plans and deepened strategic cooperation with Egypt in the field of renewable energy, aiming to promote energy transition and the construction of clean energy infrastructure.
Earlier this year, the European Commission approved a Slovakian plan worth €1 billion (approximately $1.63 billion) to provide aid to small, medium, and large enterprises through grants and income tax reductions. The plan requires companies to make investments that enhance their capacity to manufacture clean technologies, supporting the transition to a net-zero economy.
In cooperation with Egypt, the EU has deepened its strategic partnership by launching a financing package totaling up to €690 million to upgrade and expand Egypt's power grid. The package includes a €600 million loan from EIB Global, an arm of the European Investment Bank, and up to €90 million in grants from the European Commission. Led by the Egyptian Electricity Transmission Company, the project aims to integrate a total of 22 gigawatts of renewable energy capacity into the grid by 2030, expected to meet the electricity needs of approximately 10 million households.
This project is one of the first concrete actions under the Trans-Mediterranean Renewable Energy and Clean-Tech Cooperation Initiative. A flagship project of the Pact for the Mediterranean, the initiative is dedicated to fostering cooperation between the EU and Southern Mediterranean partners in renewable energy and clean technologies. The project also includes the construction of substations and the installation of advanced transmission lines to connect solar and wind energy from the Red Sea and Gulf of Suez regions to the national grid. These investments are expected to reduce transmission losses, improve power supply reliability, enhance energy security, and promote sustainable economic development.
In the electric vehicle sector, the European Commission noted that an increasing number of European drivers are switching to fully electric vehicles and continuing to benefit from cost savings. According to data from the European Automobile Manufacturers’ Association, fully electric vehicles accounted for more than one-fifth of new car registrations in the EU in April 2026, up from 15.7% in April 2025 and the full-year average of 17.4% in 2025. From January to April 2026, approximately 750,000 new fully electric vehicles were sold in the EU.
The International Energy Agency reports that with oil prices at $100 per barrel ($143), electric vehicle drivers have seen fuel savings increase by 35% compared to a year ago. For the EU, the adoption of electric vehicles has reduced oil demand by about 140,000 barrels per day, equivalent to a 4.5% decrease in oil use related to cars, saving approximately €4.5 billion annually in fossil fuel import costs.
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