Egypt signed an agreement to export 3,000 megawatt (MW) of electricity to Europe via the Greek network, a step that aligns with the country’s plan to become a regional energy hub, noted a statement by the Ministry of Petroleum and Mineral Resources.
The trilateral agreement was signed by the Egyptian Electricity Transmission Company (EETC), Greece’s Independent Power Transmission Operator (IPTO), and ELICA SA, a subsidiary of the Copelouzos Group. It mandates the start of final studies for the implementation of the Egypt–Greece grid connection project.
The interconnection is part of a broader strategy to link Egypt’s national grid with the unified European electrical grid, solidifying Egypt’s role as a regional energy hub and a vital bridge for exchanging power between Africa, Asia, and Europe, added the statement.
This agreement is a step in advancing the Green Energy Interconnector (GREGY) project, which aims to transport 100% clean energy derived from Egyptian renewable sources directly to Europe via the Greek mainland. The GREGY interconnector is the second major power link planned between the two nations, following the 2,000 MW EuroAfrica Interconnector, which involves Cyprus.
In line with this strategy of expanding electricity exports to Europe, the EETC also signed a separate cooperation agreement on November 13 with the UAE-based K&K Investment Company to carry out final studies for another 3,000 MW electricity interconnection project linking Egypt to Europe via the Italian network.
