The Egypt–Greece 3 GW electricity interconnector has received a €9.56 million EU grant to support further studies and implementation. EU–US backed power link shatters Turkey–Libya maritime claims. The European Commission has approved the funding for additional preparatory work on the 3-gigawatt electricity link connecting the power systems of Greece and Egypt.
At its core, the development signals that both the European Union and the United States are backing a project that effectively undermines Turkey’s attempts to legitimise the illegal Turkey–Libya memorandum, as promoted by Ankara.
Once operational, the project is also expected to lead to the establishment of a joint Greek–Egyptian security framework to protect the interconnector from malicious acts, sabotage or the presence of foreign naval vessels along its route.
The GREGY project
The GREGY project, developed by Elica Interconnector S.M.S.A., a member of the Copelouzos Group, will transport 100 per cent clean energy generated from renewable sources in Egypt to Greece. The electricity will also support hydrogen (H₂) production in Greece, with onward export to other European countries.
The bidirectional subsea cable has an estimated total budget of €4.2 billion.
“The exceptionally high solar and wind capacity factors in Egypt will be harnessed to meet Europe’s growing demand for green energy, particularly as part of efforts to reduce dependence on Russian natural gas and strengthen energy security,” the Copelouzos Group said.
Funding, studies and strategic importance
The grant, approved on 28 January, will be used for seabed mapping and marine survey studies using a specially equipped vessel. Earlier phases included a desktop study identifying the optimal cable route, along with a comprehensive cost–benefit and technical analysis.
GREGY has been included in the EU’s 6th Project of Common Interest / Project of Mutual Interest (PCI/PMI) list and the Global Gateway framework, which covers projects of high strategic importance.
According to the Copelouzos Group, the 3 GW interconnector will replace around 4.5 billion cubic metres of natural gas annually and cut CO₂ emissions by approximately 10 million tonnes per year.
The project’s strategic value has also been recognised by the United States, with the US House Foreign Affairs Committee approving the Eastern Mediterranean Gateway Act, under which GREGY was identified as one of four strategically significant projects.
