‘Bridge for the transfer of clean energy from Egypt In the European Union » On Monday, the great Greek -Egyptian electricity interconnection project (Gregy) was described by Egyptian Electricity Minister Mahmoud Esmmat, pointing to its importance for both nations.

Egypt and Greece signed an agreement on the completion of technical and economic studies on the great electricity interconnection project, bringing one step closer to export to even 3,000 megawatts Egyptian energy in Europe through the Greek network.

The Egyptian minister underlined the Egyptian government’s strategic focus on strengthening cross -border electricity interconnections, according to a statement from the Ministry of Electricity.

He said the project is crucial for sustainable development, K and would help “turn Egypt into a regional hub” for energy exchange and as a pipeline for electricity trade between Africa, Europe and Asia.

Esmat also noted that both governments have been committed to promoting the project. He also emphasized the economic benefits of energy exchange and the active role of Egypt in regional interconnection initiatives.

The agreement marks a further step in Egypt’s strategy to become an important regional energy hub, utilizing its potential in renewable energy sources for supplying Europe – a target accelerated by Europe’s need to differentiate from Russian gas.

The work, known as Gregy, first appeared in 2009, revived with a Memorandum of Understanding in 2021 and gained urgent importance after the gas crisis in Europe triggered by the Russian-Ukraine War in 2022.

Its main purpose is to transport 3,000 MW of net, renewable electricity – mainly from Egyptian solar and wind parks – to Europe through an underwater cable.

The project is expected replace 4.5 billion cubic feet Gas measures per year and therefore reduce CO₂ emissions by 10 million tonnes per year. It was included in the EU list with the funded electricity interconnection projects. The project will significantly enhance viability and energy security throughout the region, according to Marinos Giannopoulos, Managing Director of Enterprise Greece, the official trade and investment promotion organization in the country.

The project is expected to release 1 billion euros in grants and funding on favorable terms, he said in an interview with Ahram in July.

Athens is expected to use part of energy for industrial purposes and export most of European countries, according to reports.

Gregy is the second interface project Electricity connecting Egypt and Greece. The first, the Euroafrica Interconnector pipeline, in which Cyprus participates, has a scheduled capacity of 2,000 MW.

Egypt, Cyprus and Greece participate in the EastMed Gas Forum (EMGF), an international organization based in Cairo aimed at creating a regional gas market in the Eastern Mediterranean and to strengthen trade relations between the Member States.

The agreement was signed on Monday via teleconference, in the presence of the energy ministers of both countries.

Egypt’s national network manager, EETC, ADMIE, and Elika, a subsidiary of the Kopelouzos Group, responsible for the implementation of the project, participated.