The European Commission’s Directorate-General for Energy has proposed that electricity interconnector between Greece and Egypt be included in the list of Projects of Mutual Interest (PMI). The list should be endorsed by the European Parliament and the European Council within the next two months.
Elica, a subsidiary of the Copelouzos Group established to develop the GREGY Interconnector, said that the interconnector will connect Egypt to Europe via Greece with a 3,000 MW submarine cable with a length of about 950 kilometres.
The green and competitively priced energy that the cable will carry from Egypt to Greece will be produced from 9.5 GW of renewable energy sources that will be built and operated by Copelouzos Group in Egypt.
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 electricity 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.
