Preparatory work for the GREGY electricity interconnection project between Egypt and Greece is entering a new phase, with developer Elica starting technical and environmental studies ahead of a planned Final Investment Decision (FID). The FID is expected in late 2027 or early 2028. The next steps include an international tender process for the Environmental Impact Study (EIS) and follow-on surveys to support design development.
EIS tender and survey programme for cable route and land works
Elica has launched an international tender for the project’s Environmental Impact Study (EIS), with bids due by 15 July. After the tender deadline, additional procurement processes are expected to begin, including geotechnical surveys covering onshore infrastructure in both Greece and Egypt. A marine survey to determine the final route of the subsea cable is planned to start in late July or early August.
The study outputs are intended to feed into the Front End Engineering Design (FEED) phase. FEED is scheduled to begin toward the end of 2026. During this phase, the final technical design, construction methodology, and cost structure are expected to be defined as inputs for the investment decision and subsequent construction.
Interconnection scope, EU status and targeted commissioning
Backed by Greece’s Copelouzos Group, the GREGY project is designed to transmit renewable electricity generated in Egypt to Greece and onward into European electricity markets. Commercial operation is targeted for 2031. The project has been designated as both a Project of Common Interest (PCI) and a Project of Mutual Interest (PMI) by the European Union.
Preparatory studies are being co-financed with EU support. In parallel with interconnection work, Elica is advancing the renewable generation portfolio that will supply the link. The company is awaiting a presidential decree from Egyptian authorities to secure land access, which would enable permitting processes for the generation assets.
Renewable generation build-out and overall investment estimate
The planned generation portfolio comprises approximately 9 GW of wind, solar, and battery storage capacity. Expected annual output is around 22 TWh. Construction of both the generation assets and the subsea transmission cable is expected to proceed in parallel to support synchronized completion for commercial operation.
The total investment covering renewable generation and transmission infrastructure is estimated at approximately €13 billion.
