The flagship project conceived and designed by the Kopelouzos Group will redraw the energy map of Greece
The Greece-Egypt electrical interconnection, GREGY-Green Energy Interconnector, was proposed to be included in the list of Projects of Mutual Interest (PMI) of the European Union. In particular, as announced today by the General Directorate of Energy of the European Commission (DG Energy), the electric interconnection of the two states was proposed to be included in the list of Projects of Mutual Interest (PMI).
The list is expected to be ratified by the European Parliament and the European Council within the next two months.
The flagship project conceived and designed by the Kopelouzou Group and the ELICA Mediterranean Interconnector Group interest company, will connect Egypt with mainland Greece with a 3,000 MW capacity and approximately 950 km long submarine cable. The green and competitively priced energy that the cable will carry from Egypt to Attica will be produced by 9.5 GW of Renewable Energy Sources that will be built and operated by the Kopelouzou Group in Egypt.
This unique project is expected to redraw the energy map of the country, ushering it into a new, green era with significant advantages for the economy, the environment and the geostrategic value of Greece in the Mediterranean and Southeast Europe. Its contribution to the national economy is also expected to be of decisive importance, as many new jobs and business opportunities will be created for the Greek industry.
This is a project that is fully consistent with the European Union’s strategy to transition to green energy and achieve zero CO2 emissions by 2050, while fully supporting EU policy. for the creation of “green” energy corridors, South-North connecting the electrical system of Europe with Egypt. The project has the full support of the Greek Prime Minister, Mr. Kyriakos Mitsotakis and the President of Egypt, Mr. Abdel Fattah El-Sisi.
Electricity from Egypt:
- It will be transported to countries of the European Union from the existing as well as from the planned interconnections, part of it will be consumed by the Greek Industry
and a third of it will be used to produce green hydrogen. - It will replace 4.5 bcm of natural gas per year, reducing CO2 emissions by 10 million tonnes per year.
It is noted that GREGY – Green Energy Interconnector is already part of the development initiative “Global Gateway” of the European Union which aims to combine the priorities of the EU’s foreign policy and to leverage investments for the period 2021-2027 with the aim of developing global infrastructure .
