Greece-Egypt power link presented in Washington
Τhe Egypt-Greece GREGY electricity interconnection project, developed by Copelouzos Group’s ELICA SA, is currently at the stage of drafting the final technical and financial surveys, to be followed by a final investment decision, John Karydas, CEO of Copelouzos Group’s Renewables and Battery Storage Business Unit, told the 4th Southeast Europe & East Med conference held in Washington on Monday and Tuesday.
Presenting the project, Karydas said that the plan satisfies the complex geopolitical parameters of the region and directly connects Egypt with Attica.
The project, with a budget of 4 billion euros, is a candidate for inclusion in the list of energy Projects of Common Interest (PCIs).
It includes an electrical interconnection via an approximately 950-kilometer-long submarine cable with bi-directional capability, and aims to transfer from Egypt to Greece and the rest of Europe 3,000 MW of power generated from 9.5 GW of renewable energy sources that Copelouzos Group will build and operate in Egypt.
This green energy will be able to replace 4.5 bcm of natural gas annually and will reduce CO2 emissions by 10 million tons annually.
