Greece-Egypt interconnection enters into the next phase

The transmission system operators of Greece and Egypt (ADMIE and EETC) signed a Memorandum of Understanding (MoU) with the project promoter, ELICA, part of the Copelouzos Group, one of the largest infrastructure investors in Greece.

The agreement marks another step towards the implementation of GREGY, the Greece-Egypt electricity interconnection project. GREGY is included among the Projects of Common and Mutual Interest (PCI/PMI) as well as in the EU’s Global Gateway programme for critical infrastructure. The signing of the memorandum also initiates the next phase of studies for the subsea interconnection.

“The interconnection is part of Greece’s broader strategy to develop new energy corridors to the North and the South, fully in line with the direction recently outlined by the President of the European Commission, Ursula von der Leyen,” said Minister of Environment and Energy, Stavros Papastavrou. “The GREGY project strengthens Greece’s geopolitical role as an energy hub in Southeastern Europe, enhances the energy security in the wider region, and highlights the significant potential of our bilateral relations.”

“With today’s agreement, ADMIE, together with its Egyptian counterpart EETC, is providing ELICA with the necessary technical support and data for the implementation of the GREGY project,” said Manos Manousakis, Chairman and CEO of ADMIE. “Given the importance of this interconnection for European energy objectives, ADMIE actively supports the project and will consider participating in its implementation.”

“The memorandum sets the framework for cooperation among the three parties, enabling the exchange of know-how and experience in the preparation of final studies and the management of the project’s technical parameters,” said Yiannis Karydas, CEO of the Renewable Energy and Energy Storage Business Unit of the Copelouzos Group and of ELICA Interconnector.

The project will transmit green energy from Egypt to Greece, part of which will be directed further to Europe.