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The governments of Greece and Cyprus have signed separate memorandums of understanding with Egyptian authorities to connect their power systems to Egypt
via an undersea connection.
The undersea interconnection plans to transmit electricity generated from renewable energy sources in North Africa to Europe
.
The countries concerned will sign a tripartite memorandum of understanding
this week.
Greece's environment and energy minister, Kostas Skrekas, said on Twitter that the project is considered a significant contribution to energy security in the region and ensures the flow of green energy between Greece and Egypt
.
Skrekas called it a "bold strategic move," noting that the project would elevate the country's geopolitical role and cement its position
as a green energy transmission hub in southeastern Europe.
As part of the project, Cyprus on Saturday signed a memorandum of understanding to connect its grid with Egypt's, creating a framework for cooperation to facilitate the design, licensing, development and implementation
of the program.
The agreement is designed to expedite the approval process and feasibility studies
.
"For Cyprus, the electricity connection with Egypt has the potential to be the cornerstone of our transition to a green economy," said
Cyprus Energy Minister Natasa Pileidou.
Earlier this year, Israel, Cyprus and Greece agreed to develop an undersea cable project to connect to their power grids
.
The so-called Eurasian interconnection plans to provide up to 2 GW of transmission capacity
when it comes into production in 2025.
The governments of Greece and Cyprus have signed separate memorandums of understanding with Egyptian authorities to connect their power systems to Egypt
via an undersea connection.
The undersea interconnection plans to transmit electricity generated from renewable energy sources in North Africa to Europe
.
The countries concerned will sign a tripartite memorandum of understanding
this week.
Greece's environment and energy minister, Kostas Skrekas, said on Twitter that the project is considered a significant contribution to energy security in the region and ensures the flow of green energy between Greece and Egypt
.
Skrekas called it a "bold strategic move," noting that the project would elevate the country's geopolitical role and cement its position
as a green energy transmission hub in southeastern Europe.
As part of the project, Cyprus on Saturday signed a memorandum of understanding to connect its grid with Egypt's, creating a framework for cooperation to facilitate the design, licensing, development and implementation
of the program.
The agreement is designed to expedite the approval process and feasibility studies
.
"For Cyprus, the electricity connection with Egypt has the potential to be the cornerstone of our transition to a green economy," said
Cyprus Energy Minister Natasa Pileidou.
Earlier this year, Israel, Cyprus and Greece agreed to develop an undersea cable project to connect to their power grids
.
The so-called Eurasian interconnection plans to provide up to 2 GW of transmission capacity
when it comes into production in 2025.
