Egypt has signed an agreement to export 3,000 megawatts (MW) of electricity to Europe via Greece, in a move that is in line with the country’s plan to become a regional energy hub, the country’s Ministry of Petroleum and Mineral Resources said in a statement.

The tripartite agreement was signed by the Egyptian Electricity Transmission Company (EETC), the Independent Electricity Transmission Operator of Greece (ADMIE) and ELICA SA, a subsidiary of the Copelouzos Group. The agreement provides for the start of the final studies for the implementation of the Egypt-Greece grid connection project.

The statement said the interconnection is part of a broader strategy to connect Egypt’s national grid to the single European electricity grid, reinforcing Egypt’s role as a regional energy hub and a vital bridge for energy exchange between Africa, Asia and Europe.
The statement added.

This agreement is seen as a key step in the promotion of GREGY, which aims to transport 100% clean energy from Egypt’s renewable energy sources directly to Europe via mainland Greece. The GREGY interconnection is the second major electricity connection planned between the two nations, following the 2,000 MW EuroAfrica Interconnector, in which Cyprus participates.

In terms of electricity exports to Europe, EETC also signed a separate cooperation agreement on November 13 with UAE-based K&K Investment Company to carry out final studies for another 3,000 MW electricity interconnection project linking Egypt to Europe via the Italian grid.