Greece-Egypt power link on EU’s list
The European Commission’s Directorate-General for Energy (DG Energy) has announced that it has been proposed that the power interconnector planned by Greece and Egypt, dubbed GREGY, be included in the European Union’s list of Projects of Mutual Interest (PMI).
The list is expected to be endorsed by the European Parliament and the European Council within the next two months.
“The flagship project will connect Egypt to Europe via Greece with a 3,000-megawatt submarine cable with a length of about 950 kilometers. The green and competitively priced energy that the cable will carry from Egypt to Greece will be produced from 9.5 gigawatts of renewable energy sources that will be constructed and operated by Copelouzos Group in Egypt,” the company said in a statement.
It added: “This is a project of major importance for Egypt, as it will enable 9.5 GW of RES investments representing an investment of 8 billion euros and has the full support of the president of Egypt, Abdel Fattah El-Sisi, and the Greek prime minister, Kyriakos Mitsotakis. Through the Egypt-Greece electrical interconnection, the European Union can gradually secure a stable supply of large quantities of green electricity, consolidating Egypt’s position as a regional energy hub.”
