Τhe Egypt-Greece GREGY electricity interconnection project, developed by ELICA SA of Copelouzos Group, is currently at the stage of drafting the final technical and financial surrveys, to be followed by a final investment decision, John Karydas, CEO of Copelouzos Group’s Renewable Sources and Energy Storage Business Unit said, addressing the 4th conference on Southeastern Europe and Eastern Mediterranean held in Washington on Monday and Tuesday.
Presenting the project, Karydas said that the plan satisifies the complex geopolitical parameters of the region and directly connects Egypt with Attica. The project, with a budget of 4 billion euros, is a candidate for inclusion in the list of European interest projects. It includes an electrical interconnection through a submarine cable with a length of approximately 950 km, with a bi-directional capability and aims to transfer from Egypt to Greece and the rest of Europe, 3,000 MW of green electricity power, generated from 9.5 GW of renewable energy sources that Copelouzos Group will build and operate in Egypt. This green energy will be able to replace 4.5 bcm of natural gas annually and will reduce CO2 emissions by 10 million tons annually.
Attending the presentation, among others, were the former US ambassador to Greece Geoffrey Pyatt -currently Assistant Secretary of Energy Resources at the State Department- the former US ambassador to Egypt Jonathan Cohen and Vladimir Malinov, executive director of Bulgartransgaz.
