Egypt, Greece, Cyprus sign electricity linkage MoUs
Greek Prime Minister Kyriakos Mitsotakis has pledged to link Egypt to the EU energy market through the undersea cable projects.
The USD 4 bn EuroAfrica Interconnector project, which will connect the electrical grids of Egypt, Greece, and Cyprus, got a huge boost over the weekend after Egypt signed MoUs with Greece and Cyprus.
The MoUs with Greece — signed by Electricity Minister Mohamed Shaker on Thursday during a trip to Athens — will see the two countries build an undersea cable connecting their grids.
“The interconnection of transmission networks between our two countries represents a bold strategic initiative,” Greek Prime Minister Kyriakos Mitsotakis tweeted on Thursday, adding that the agreement “secures the flow of green energy and enhances Europe’s energy security.”
The subsea cable comes as part of the USD 4 bn EuroAfrica Interconnector project, which will connect the electrical grids of Egypt, Greece, and Cyprus. The project comes as part of Egypt’s ambitions to become a regional energy hub and exporter of green energy to Europe. Egypt, which has committed to producing 42% of its electricity from renewables by 2035, produces an excess of solar energy, which is notoriously hard to store.
