Egypt and Saudi Arabia are investing $1.8 billion in an electricity interconnector with a capacity of 3,000MW, which is one and a half times more than the production of the River Nile’s High Dam. The project enables Egypt to export electricity as it is working to connect with Saudi Arabia and take advantage of the different peak times of energy consumption, Okaz reported, citing Egyptian Minister of Electricity and Renewable Energy Mohamed Shaker. The exchange of power is further enabled using storage installations. The project is also considered the starting point for Egypt to transform into a main hub for the Arab electricity market, Okaz stated, citing Minister Shaker.