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New Power Cables In Europe To Make Energy Cheaper And More Sustainable

Researchers funded by the EU are developing advanced power cables to enhance Europe’s electrical grid, aiming to reduce energy waste, cut costs, and lower emissions. The SUBRACABLE project, led by Danish company SUBRA, utilises ceramic-based superconductors to transmit electricity with minimal energy loss. These cables use 99% less copper and have 90% lower energy loss compared to traditional cables. By 2027, SUBRA aims to produce a 400-metre demonstration cable, significantly advancing sustainable energy infrastructure in Europe.

Key Benefits

  1. Energy Efficiency: Superconductor cables drastically reduce energy loss, enhancing grid efficiency.
  2. Cost Reduction: Lower material and operational costs make energy transmission cheaper.
  3. Sustainability: Reduced reliance on copper and lower emissions contribute to a greener energy sector.

Future Prospects

SUBRA’s advancements promise to revolutionise energy transmission, aligning with the EU’s goals to increase renewable energy use and decrease greenhouse gas emissions. This innovation is expected to play a pivotal role in Europe’s transition to a more sustainable and resilient energy system.

As Europe seeks to expand its renewable energy capabilities, such technological advancements are essential for achieving long-term energy sustainability and economic efficiency. The successful deployment of these cables could set a new standard in global energy infrastructure, positioning Europe at the forefront of the clean energy transition.

Egypt’s Suez Canal Economic Zone Draws $8.1B In Investments Through 255 Projects

Egypt’s Suez Canal Economic Zone (SCZone) has secured an impressive $8.1 billion in investments across 255 projects in the last 30 months, according to an official announcement on Monday.

Major Investment Boost For SCZone

The General Authority for the SCZone has successfully attracted 251 projects in its industrial zones and ports, accumulating $6.2 billion in capital investments, which has resulted in around 28,000 new jobs, as stated by SCZone Chairman Walid Gamal El-Din.

Additionally, four new projects have brought in $1.8 billion in investments, boosting the total capital inflows within the zone. These developments were discussed in a meeting with Mohamed Zaki El Sewedy, Chairman of the Federation of Egyptian Industries (FEI), and other officials from various chambers of commerce.

Strengthening Industrial Ties And Opportunities

The meeting focused on expanding investment prospects, fostering collaboration, and addressing challenges faced by industrial firms with strong export potential. A key objective was to encourage businesses to scale up their operations within the SCZone, leveraging its prime location, advanced infrastructure, and investor-friendly policies.

El-Din stressed the importance of the SCZone in driving Egypt’s economic growth and industrial transformation, citing the Ain Sokhna Integrated Industrial Zone as a flagship example of development. This zone is a testament to Egypt’s growing presence as a competitive global manufacturing hub.

The continued partnership between the SCZone and the private sector, El-Din noted, plays a pivotal role in building a strong ‘Made in Egypt’ brand, supporting local industrial development, and boosting innovation to improve Egypt’s position in global markets.

Acknowledging Achievements And Future Collaboration

El Sewedy praised the SCZone for its efforts in creating a robust investment climate, offering comprehensive services, incentives, and cutting-edge infrastructure. This meeting marked the beginning of a deeper collaboration between the SCZone and FEI, setting the stage for future joint initiatives.

Egypt’s Economic Outlook

Egypt’s economy is projected to grow by 4% in the year leading up to June, bolstered by supportive measures from the IMF, according to a Reuters poll conducted in January 2025. The poll also forecasts a GDP growth acceleration to 4.7% in 2025-26 and 5% in 2026-27.

However, the country’s GDP growth slowed to 2.4% in 2023-24, down from 3.8% in the previous year, primarily due to the ongoing currency crisis and the geopolitical impact of the war in neighboring Gaza, according to the Central Bank of Egypt.

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