Egypt-Greece 3GW Cable Deal Finalized

Key Figures & Findings: Greece and Egypt have reaffirmed their commitment to a 3,000 MW undersea electricity interconnection project to export renewable energy, primarily solar and wind, from Egypt to Europe. The interconnection cable, supported by the EU and involving private sector players like Greece’s Copelouzos Group, will stretch approximately 1,000 km across the eastern Mediterranean. The project is part of a broader cooperation framework between both nations, covering energy, defense, migration, and trade. 

Statistics & Insights: The cable will cost around €4 billion ($4.5 billion) and deliver 3 GW of baseload renewable electricity to Europe. This 620-mile link will be developed over five years and aligns with the EU’s initiative to diversify its energy sources post-Russia-Ukraine conflict. Once operational, it will facilitate the delivery of competitively priced clean energy and reduce dependence on fossil fuels.

Future Implications: If completed, the interconnector could become a strategic energy lifeline, enhancing Europe’s energy security while helping Egypt monetize its renewable capacity. The project will also strengthen EU-Egypt ties, provide economic benefits through expanded trade and labor exchange, and accelerate the energy transition in the Mediterranean region.

Source: The Washington Post