Image for illustration purposes.

Greece supplied by undersea green energy

Greece, Athens: Egypt will transport green energy to Greece via a 3,000 MW undersea cable, with the option of bidirectional transmission of energy.

A Memorandum of Understanding for renewable energy projects has been signed by the joint venture between UAE’s Masdar and Egypt’s Infinity, Copelouzos Group and Infinity Power.

GREGY”, or the Green Energy Interconnector project, will directly connect Egypt and Greece via a 3,000 MW undersea cable, transporting entirely green energy between the two countries. This will reduce CO2 emissions and thus contribute to tackling climate change.

A media statement stated: “The necessary renewable energy projects with a capacity of around 9.5 GW shall be required to maximise the utilisation of GREGY. The project will provide alternative clean and renewable energy sources and routes for Europe, thereby reducing the continent’s dependency on energy produced from fossil fuels.”

Infinity Power chairperson Mohamed Ismail Mansour, Chairman, said: “This project is a remarkable opportunity for Egypt to benefit through economic development and revenue growth. The project will also enhance the country’s energy security and be a key venture in promoting international cooperation. By supplying renewable energy to Europe, we are not only bolstering our own economy but also positioning ourselves as a key player in the global energy market.”

Source: ESI Africa

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