Signatures are inked for the “giant” cable of Greece – Egypt

Greece and Egypt are taking another step to strengthen their diplomatic relations by finding a common field in the field of energy.

According to information from OT, on Friday 8 or Saturday 9 October in Athens, the Ministers of Environment and Energy Costas Skrekas and the Egyptian Minister of Electricity and Renewable Energy Mohamed Saker El-Markabi will sign a Memorandum of Understanding in Athens. concerning the electrical interconnection of the two countries with a 2 GW submarine power cable.

The importance of the electrical interconnection was mentioned by OT.gr and the president and CEO of IPTO Manousos Manousakis during an interview at the Thessaloniki International Fair.

According to sources, through the memorandum, the two sides are expected to state their intention to explore the appropriate way of their cooperation for the development of this project.

According to information, the two Operators of the Electricity Systems of the two countries, IPTO and the Egyptian EETC, are working intensively for the electrical interconnection.

Green energy in the EU

The main goal of the “mammoth” investment plan  is the submarine cable to stop not only in Greece but through other interconnections to transfer “green” energy to Western and Central Europe.

The plans of the two countries are for the electrical interconnection to be the starting point of a wider project which envisages the transfer of “green” energy from large photovoltaic parks that are being developed in Egypt in the heart of the EU. Its completion also requires investments, according to information, for new electrical interconnections, such as that of Greece with Italy, but also the strengthening of existing transmission lines with northern countries, such as Bulgaria.

Competitive projects

According to the same sources, Brussels is eager to connect with African countries in order for Europe to achieve the very ambitious goals it has set for reducing greenhouse gas emissions.

It is also worth noting that similar projects are claimed by Italy with Tunisia and Portugal with Morocco.

The Greek side, according to information, is considering alternative routes of the submarine cable that will come from Egypt and these are Crete, Attica and the Peloponnese.

The project is also sought to be implemented in collaboration with private investors, who have expressed interest in the project.

The contacts for the electrical interconnection Greece – Egypt have lasted since November 2020, when in Athens the Prime Minister Kyriakos Mitsotakis had met with the President of Egypt, Abdel Fattah al Sisi.

Last May, a teleconference followed between Costas Skrekas and Mohamed Saker El-Markabi. The two ministers had then agreed to sign a memorandum of cooperation.