Four out of six companies have advanced to the second round of the Greek-Egyptian GREGY Interconnector project, submitting bids for contracts related to studies that will determine the route and cost of the interconnector. The project, spearheaded by Elica, a subsidiary of the Copelouzos Group, aims to transport affordable renewable energy from Egypt to Greece, with plans to extend it to other parts of Europe.
Elica is scheduled to review the submitted proposals throughout February, with an announcement of the selected contractors expected by the end of the month. The names of the four bidding companies have not been made public.
The initial proposed route for the interconnector stretches from Sallum on Egypt’s northwest coast to Nea Makri near Athens. However, the path crosses waters deeper than 3 kilometers and passes through geopolitically sensitive areas, which may lead to modifications in the original plan. A key factor in finalizing the route will be the results of seabed mapping along a 954-kilometer section of the Eastern Mediterranean, an area known for its challenging terrain.
In addition, Greek Energy Minister Thodoros Skylakakis is set to visit Cairo on February 16-17 to meet with his Egyptian counterpart. The discussions will focus on the interconnection project and its progress.
