The electric interconnection of Greece with Israel and Egypt is charging ahead

Athens is accelerating the two mega projects worth a total amount of 6 billion euros that will accelerate the divestment from Russian fossil fuels and the fulfillment of the goals of the Green Deal in Greece and the EU to reduce gaseous pollutant emissions.

These are the electrical connections with Cyprus and Israel and with Egypt. Two separate projects aimed at transporting by submarine cables “green” electricity from RES in the Middle East and North Africa. They are two electric transit boulevards between three continents (Asia, Africa and Europe)

The projects are in the stage of design preparation and the leadership of the Ministry of Environment and Energy and the management of Independent Power Transmission Operator-IPTO are seeking to increase speeds for their implementation.

The Israel – Cyprus – Greece cable

In particular, the procedures are ongoing for the implementation of the Israel-Cyprus-Greece electricity interconnection, 1,208 km long and worth 2.5 billion euros, after the previous months of financing of the project by the European Commission with resources of 657 million euros.

According to information, today, executives of the Israeli Electricity Transmission Operator are in Athens, who are welcomed by the IPTO management team, and then there will be a meeting with the Minister of Environment and Energy, Costas Skrekas. The project is implemented by the Cypriot organization EuroAsia Interconnector. The Commission’s funding was given for the part of the Cyprus-Greece electricity interconnection, however Israel is entering more dynamically for the development of the section connecting it with Cyprus.

IPTO, according to information, is claiming a shareholding in the project and has already proceeded to the necessary due diligence (economic-technical evaluation) to submit a proposal. The electrical interconnection of the three countries will be done with a 1 GW submarine cable and the goal is to be built by the end of 2025.

The electricity connection with Egypt

On the front of the Egypt-Greece electricity interconnection, developments on the progress of the project are likely to be discussed during Minister Costas Skrekas’ visit to Cairo on June 14th and 15th. Skrekas will participate in the work of the East Med Gas Forum, the club of the Southeast Mediterranean countries that has been set up for the energy cooperation of Egypt, Greece, Israel, Cyprus, Jordan, Italy and Palestine. The Greek minister on the sidelines will meet with the Egyptian minister responsible for the issue of electricity interconnection. Skreka’s visit to Cairo will be followed by a visit by IPTO President and CEO Manos Manousakis, who will meet with the Egyptian Administrator.

The project of the Greece – Egypt electricity interconnection is in line with the investment plan of ELICA, a subsidiary of the Kopelouzos group. The estimated budget of the project is 3.5 billion. euros and with the cable that will start from the area El Sallum and will end up either in N. Makri (954 km) or in Keratea (921 km) of Attica, aims to transfer 3 GW of electricity that will be produced by RES of Egypt. The North African country plans to develop 61 GW green energy systems by 2035.

The clean energy that will reach Attica will be transferred to the Balkan region and to Italy through electricity connections of Greece with its neighboring countries.