President Abdel Fattah El-Sisi meeting with Greece’s Copelouzos Group in Athens on Wednesday. Photo by Egyptian Presidency.
The president made these remarks in a meeting on Wednesday in Athens with the group's Chairman, Dimitris Copelouzos.
In October 2021, Egypt and Greece signed an agreement to extend an undersea cable transmitting electricity from North Africa to Europe and another to link their electricity transmission networks.
Greece's Copelouzos Group is developing the €3.5 billion GREGY interconnection project, which transmits 3,000 MW of renewable energy from northern Egypt directly to Attica in Greece.
The president emphasised the project's strategic importance as a key pillar in supplying Europe with energy from Egypt that aligns with the Egypt-EU strategic partnership.
Furthermore, El-Sisi emphasised that the governments of Egypt and Greece firmly back the project politically, especially after it was listed among the European Union's projects of mutual interest and benefit.
In April, the EBRD and ELICA INTERCONNECTOR S.M. S.A., a Copelouzos Group company, signed a grant agreement to fund initial studies for the Egypt-Greece GREGY electrical interconnection project.
According to a statement by the Egyptian Presidency, EBRD and ELICA agreed during their meeting on the importance of leveraging Egypt's modern electricity infrastructure, which it developed over the past decade.
The presidency also highlighted that Egypt's unique natural resources, especially the wind and the sun, qualify it to become a global leader in producing renewable energy and a regional hub for energy trade.
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