Egypt and Greece have taken a significant step forward in their joint electricity interconnection project, which aims to export up to 3,000 megawatts of power from Egypt to Europe through the Greek grid.
Egypt’s Minister of Electricity and Renewable Energy Mahmoud Esmat and his Greek counterpart, Minister of Energy and Environment Thanos Papastavrou, witnessed the signing ceremony via video conference.
The tripartite agreement was signed between the Egyptian Electricity Transmission Company, Greece’s Independent Power Transmission Operator (IPTO), and Elica, a subsidiary of the Copelouzos Group, which is developing the project.
The initiative has been included by the European Union on its list of priority electricity interconnection projects eligible for EU funding, reflecting its strategic importance in transporting clean energy from Egypt to European markets.
Minister Esmat described the Egypt-Greece interconnection as a cornerstone of Cairo’s strategy to become a regional hub for energy exchange and a vital bridge linking the electricity networks of Africa, Asia, and Europe.
He underlined that the project aligns with President Abdel Fattah el-Sisi’s vision and the government’s plan to advance sustainable development by expanding renewable energy use and reducing dependence on fossil fuels.
He added that both Egypt and Greece are committed to expediting project procedures, positioning the interconnection as a gateway for power exchange with Europe, generating economic and strategic benefits for all stakeholders.
Esmat also stressed Egypt’s determination to actively participate in regional interconnection projects, leveraging its vast potential in renewable and clean energy to reinforce its standing as a reliable exporter of electricity.
Follow the latest news on Google News
