The Greece-Egypt electricity interconnection project (GREGY) developed by the company ELICA SA of the Copelouzos Group was presented in the context of the United Nations World Conference on Climate Change COP 27, under the auspices of the Greek Ministry of Environment and Energy and with the participation of competent minister Kostas Skrekas, Bulgarian Energy Minister Rossen Hristov and managing director for the Climate Strategy of the European Bank for Reconstruction and Development (EBRD) Harry-Boyd Carpenter, .
The presentation
The presentation took place at the stand of the European Commission, in the presence of many dignitaries, ministers, ambassadors and general secretaries. The managing director of the Renewable Sources and Energy Storage Business Unit of the Copelouzos Group, Yannis Karydas, presented the progress in the electric interconnection project of the two countries and underlined in detail the multiple environmental advantages of a project that fully serves European “green” energy goals.
The project
The Greece-Egypt electrical interconnection, through an approximately 950 km-long submarine cable capable of two-way energy transfer, is characterized as one of Europe’s most important high-priority energy projects, with a key role in the new energy map that is currently being formed in the wider geographical area in light of recent geopolitical developments and the energy crisis.
As highlighted in the thematic presentation, the “GREGY-Elica Interconnector”, with a budget of €3.5 billion, will make a decisive contribution to the transition from fossil fuels and natural gas, as the submarine cable that will connect the two countries will carry 100% green, clean, and cheap electricity.
The 3,000 megawatts of green electricity it will transfer from Egypt to Greece will be generated by 9.5 GW of Renewable Energy Sources (RES) that the Copelouzos Group will build and operate in Egypt and will be able to replace 4.5 bcm of natural gas per year, reducing CO2 emissions by 10 million tons per year.
This is a project that is fully consistent with the European Union’s strategy for the transition to green energy and the achievement of zero CO2 emissions by 2050, while at the same time it contributes to the emergence of Greece as a hub for “green” energy in the wider Eastern Mediterranean region .
The GREGY project is a flagship project for SE Europe and fully supports EU policy for the creation of North-South energy corridors, including green corridors, connecting the electrical systems of Europe with North Africa.
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Mitsotakis Unveils €1 Billion Plan for Housing, Pensioners, Public investments
Greek Prime Minister Kyriakos Mitsotakis has announced a new set of economic support measures, worth 1 billion euros, aiming to provide financial relief to citizens.
Alter Ego Ventures Invests in Pioneering Gaming Company ‘Couch Heroes’
Alter Ego Ventures' participation in the share capital of Couch Heroes marks yet another investment by the Alter Ego Media Group in innovative companies with a focus on technology.
Corruption Still Plagues Greece’s Driving Tests
While traffic accidents continue to claim lives on Greek roads daily, irregularities and under-the-table dealings in the training and testing of new drivers remain disturbingly widespread
Pope Francis Died of Stroke and Heart Failure Vatican Confirms
As news of the official cause of death spread, tributes poured in from across the globe. The 1.4 billion-member Catholic Church is united in grief, remembering a pope who championed inclusion, justice, and compassion
Increase in Both Museum Visits, Revenues for 2024
As expected, the Acropolis was the top archeological site in the country, followed by Sounion, Mycenae, the ancient theater of Epidaurus, and Vergina in northern Greece
Where Greece’s Tourists Come From: A Look at 2025’s Top Visitor Markets
The United Kingdom continues to hold the top spot as the largest source of incoming tourism, with 5.6 million seats booked for Greece this summer — up 2.2% from last year. This accounts for 20% of all international air traffic to Greece
Pope Francis: A Pontiff Who Reshaped the Papacy and Sparked a Global Conversation
His first words from the balcony of St. Peter’s Basilica—“Brothers and sisters, good evening”—set the tone for a pontificate that would challenge norms, favor mercy over dogma, and bring the papacy closer to the people.
When Blue Skies was Unmasked as ND’s Political ‘Slush Fund’
The fact that so many top New Democracy (ND) party cadres were paid by the firm Blue Skies, owned by Thomas Varvitsiotis and Yiannis Olympios, without ever citing this publicly, raises very serious moral issues, regardless of the legality
Greek Women’s Water Polo Team Top in the World after 13-9 Win Over Hungary
The Greek team had previously defeated another tournament favorite, the Netherlands, to reach the final.
S&P Raises Greek Rating; BBB with Stable Outlook
S&P’s decision raises the Greek economy to the second notch of investment grade ladder, at BBB with a stable outlook.
![Πλημμύρες: Σημειώθηκαν σε επίπεδα ρεκόρ στην Ευρώπη το 2024 [γράφημα]](https://www.ot.gr/wp-content/uploads/2025/04/FLOOD_HUNGRY-90x90.jpg)
![Ξενοδοχεία: Μεγάλο το ενδιαφέρον για επενδύσεις στην Ελλάδα – Η θέση της Αθήνας [γραφήματα]](https://www.ot.gr/wp-content/uploads/2025/03/Athens-hotels-90x90.jpg)
