Egypt to sign electricity interconnection deal with Greece on Thursday

Published on : 2021-10-13

Egypt is set to sign a preliminary agreement with Greece to establish a large electricity cable connecting the two countries, Bloomberg reported on Wednesday. 

The memorandum of understanding (MoU) will be signed by the Egyptian Minister of Electricity, Mohamed Shaker, and the Greek Minister of the Environment and Energy, Konstantinos Skrekas, on Thursday, according to a spokesman for the Greek Ministry of the Environment and Energy. 

This MoU would be the first electricity interconnection deal to be signed between Europe and Africa in the southeastern Mediterranean.

Egypt, which has a surplus of electricity, has started negotiations a year ago to sell electricity to Europe, highlighting its advantage as a producer of low-cost renewable energy as part of efforts to become a regional export hub.

The country has been in talks with Greece and Cyprus in recent months to establish a subsea cable linking the three countries.

Earlier in October, Egypt signed deals with Saudi Arabia for an electricity interconnection project which will see the exchange of 3,000 megawatts (MW) of power.

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