Greece and Egypt will sign a cooperation agreement to develop an undersea grid interconnection system

Greece and Egypt are scheduled to sign an agreement on Thursday to build an undersea cable
connecting the power grids of the two countries, officials said recently.

Greece aims to access Egypt's lower-cost solar electricity
by connecting it to its power grid.
It was revealed that a memorandum of understanding between the two countries will be signed
in Athens.

Earlier, Greece also wanted to build a Eurasian grid interconnection system connecting Cyprus and Israel, which would be the world's longest and deepest submarine power cable across the Mediterranean, costing about $900 million
.

This summer, Greece connected Crete to the Peloponnese's grid via undersea cables, an important step
in the country's efforts to reduce its dependence on imported fossil fuels and promote the use of renewable energy.

Greek grid operator IPTO will build a €1 billion underwater power system to connect Crete to the mainland grid by 2023
.
The project will then be connected
to the planned Eurasian grid interconnection system.