Greece and Saudi Arabia are accelerating plans to create a green energy corridor to transport renewable electricity from Riyadh to Europe via Greece. This initiative was reaffirmed during a meeting between Greek Energy Minister Thodoros Skylakakis and his Saudi counterpart, as both countries aim to become key players in the global energy transition. The talks build on previous discussions between Greece’s Independent Power Transmission Operator (IPTO) and Saudi Arabia’s National Grid, with both parties working on the technical and financial roadmap for the interconnection.
The centerpiece of the project is the Saudi-Greek Interconnection, a joint venture established in February 2023 to conduct a feasibility study for the energy link. The study, which is expected to conclude in the next nine months, will assess the viability of a 2,000-kilometer transmission line. The initial route is planned to pass through Egypt and Greece via the Suez Canal, avoiding Israel, as agreed in 2022. However, an alternative route through Jordan, Israel, and Greece, with Cyprus as a possible stop, remains under consideration, depending on evolving diplomatic conditions.
This interconnection is part of a broader European energy strategy, complementing the Green Aegean Interconnector, which aims to link Greece to Germany. The project aims to reduce Europe’s dependence on Russian natural gas by facilitating the transmission of solar energy from the Middle East. Saudi Arabia’s low solar energy costs, with recent contracts priced at $10.4 per megawatt-hour, make the project highly cost-effective. The interconnection will likely use high-voltage direct current (HVDC) technology for efficient, high-capacity energy transmission, supplying power to major energy markets in Central Europe, particularly Germany.
With the feasibility study set to conclude by September, Greece and Saudi Arabia are moving closer to making this green energy corridor a reality, a development that could significantly reshape Europe’s energy landscape in the coming decades.
