The power transmission system operators (TSOs) of Greece (ADMIE) and Egypt (EETC) have signed a Memorandum of Understanding (MoU) with the project promoter ELICA, a subsidiary of the Greek investor Copelouzos Group, to advance the GREGY electricity interconnection. The €3.6bn GREGY project aims to transmit 3 GW of renewable electricity, mainly generated from Egypt’s solar and wind parks, to Europe via a submarine HVDC cable. Originally proposed in 2009, it gained renewed urgency following Europe’s energy crisis triggered by the Russia-Ukraine war in 2022.

This agreement marks a significant milestone in the development of the project. GREGY is recognized as a Project of Common and Mutual Interest (PCI/PMI) and is included in the EU’s Global Gateway programme for critical infrastructure. The signing of the MoU also initiates the next phase of studies for the subsea interconnection.

GREGY is the second power-link project connecting Egypt and Greece. The first, the EuroAfrica Interconnector, which also involves Cyprus, has a planned capacity of 2,000 MW.