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EU energy crisis: Egypt will use an 853-mile-long undersea cable to deliver 3,000 MW of electricity

By October 7, 2022No Comments

In the midst of Russia’s conflict with Ukraine, a 1,373-kilometer (853/mile) undersea electricity cable that runs from Egypt to Europe has been hailed as a solution to the continent’s impending energy crisis.

According to a story that was published by Euronews last month, the undersea cable connecting northern Egypt with Attica, Greece, will be able to transport 3,000 MW of electricity, enough to power up to 450,000 homes.

The project is being carried out by the Copelouzos Group, one of Greece’s largest infrastructure investors, who met with the Egyptian officials earlier in September to expedite the process.

“By bringing 3,000 MW of clean energy to Europe via Greece, we are helping Europe wean itself off Russia’s fossil fuels and natural gas,” Ioannis Karydas, the CEO of Copelouzos Group, told Euronews.

“Also, the green energy we will transport will be much cheaper than today’s energy prices. You understand that this will help both Greek and European consumers.”

The project, called “GREGY interconnection”, is estimated to cost 3.5 billion euros and has been designated by the European Union (EU) as a Project of Common Interest (PCI), a top priority.

Additionally, the project will aid in transferring renewable electricity produced in Egypt and other African countries to Europe via underwater cables connected to wind and solar parks.

 

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