Egypt

Egypt to deliver 3,000 MW of electricity to Europe through an 853-mile-long undersea cable

Published on : 2022-10-05

An 853-mile-long (1,373 km) undersea electricity cable connecting Egypt with Europe has been touted to help Europe's impending energy crisis amidst Russia's war with Ukraine.

The undersea cable from northern Egypt to Attica, Greece, will be able to transport 3,000 MW of electricity, which is enough to power up to 450,000 homes, according to a report published by Euronews last month.

The project is being carried out by the Copelouzos Group, one of Greece's largest infrastructure investors, who met with the Egyptian officials earlier in September to expedite the process.

"By bringing 3,000 MW of clean energy to Europe via Greece, we are helping Europe wean itself off Russia's fossil fuels and natural gas," Ioannis Karydas, the CEO of Copelouzos Group, told Euronews.

"Also, the green energy we will transport will be much cheaper than today's energy prices. You understand that this will help both Greek and European consumers."

The project called "GREGY interconnection" is estimated to cost 3.5 billion Euros and has been designated by the European Union (EU) as a Project of Common Interest (PCI), a top priority.

And through underwater cables connected to wind and solar parks, the project will help transport renewable electricity generated in Egypt and other African nations to Europe.


Green Energy from Egypt

"Approximately one third will be consumed in Greece, and mainly in Greek industries, another third will be exported to neighboring European countries, and the remaining will be used for the production of green hydrogen," said Karydas.

"The majority of this hydrogen will also be exported to neighboring European countries."

Egypt has already completed interconnection projects with Libya, Sudan, and Saudi Arabia. The Arab country aspires to become a major energy hub for Southeast Europe. And the new project connected to Europe is expected to be completed in seven to eight years.


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