Kopelouzos Group – The process of including the Greece-Egypt electricity interconnection in the PCI list has started

The Koupelouzos Group submitted a complete request for the inclusion of the project of the electricity interconnection Greece – Egypt (GREGY – Green Energy Interconnector) in the ten-year Development Plan of the European Energy Networks (TYNDP 2022).

According to the group’s announcement, the inclusion of the project in TYNDP 2022 will be the first necessary step that will launch the process of inclusion in the 6th list of Projects of Common Interest (PCI) of the European Union in the context of the interconnection of Trans-European Energy Networks.

The list of projects of European Common Interest (PCI) projects are important cross-border projects that link the energy systems of EU and third countries and help the EU achieve its climate targets and implement its energy policy by providing a safe, affordable and sustainable energy for all European citizens.

The project will transfer 100% clean, green energy produced from renewable energy sources to be implemented in Egypt and will offer significant benefits not only in Greece but throughout Europe, contributing to its energy security, helping it to achieve faster detoxification. from fossil fuels and achieve zero carbon emissions targets, it points out.

The Kopelouzos Group, in the context of the documentation of the significant cross-border value that this project will have, carried out an extensive study, which proved that the implementation of this Greece-Egypt electricity interconnection will release a capacity of about 700MW in the existing electricity transmission networks. Greece – Italy and Greece – Bulgaria.

“The expected inclusion of this project in the list of PCI projects will facilitate both its licensing and financing, thus accelerating the implementation of the electricity interconnection, bringing closer the significant energy and geopolitical benefits for the wider region, making Greece a key energy hub in the Eastern Mediterranean.

A project envisioned in 2009 by the Kopelouzos Group and which with the recent signing of a Memorandum of Cooperation between the Ministry of Energy and Environment of Greece and the Ministry of Energy of Egypt sealed its strategic importance for the two governments, is part of the ten-year development plan. EU TYNDP cross-border connections and in the process of European projects of common interest PCI, officially highlighting the European dimension of its strategic importance “, the group’s announcement comments.