IPTO – Mega project for transfer of “green” energy from Egypt to Greece and EU

The case of the electrical interconnection of Egypt with Greece is evolving into an investment plan – “mammoth”.

According to information from OT.gr, among the plans of the electricity transmission operators of Greece (IPTO) and Egypt (EETC) is the construction, always in consultation with the European authorities, of a submarine cable which will connect the two countries and will serve for the transfer of clean energy to the EU.

Sources say that the two administrators are in full coordination with each other so that a memorandum of cooperation will be signed soon, as well as a meeting at the level of political leadership.

Green energy in the EU

The electricity interconnection of the two countries is the starting point of a larger project which envisages the transfer of “green” energy from large photovoltaic parks being developed in Egypt to Central European countries. Its completion also requires investments, according to information, for new electrical interconnections, such as that of Greece with Italy, but also the strengthening of existing transmission lines with northern countries, such as Bulgaria.

According to the same sources, Brussels is eager to connect with African countries in order for Europe to achieve the very ambitious goals it has set for reducing greenhouse gas emissions.

Competition and routes

It is also worth noting that similar projects are being implemented by Italy with Tunisia and Portugal with Morocco.

The Greek side, according to information, is considering alternative routes of the submarine cable that will come from Egypt and these are Crete, Attica and the Peloponnese.

The project is also sought to be implemented in collaboration with private investors, who have expressed interest in the project.

Contacts on the Greek-Egyptian electricity interconnection began in November 2020, when Prime Minister Kyriakos Mitsotakis met in Athens with the President of Egypt, Abdel Fattah al-Sisi.

Last May, a teleconference followed between Environment and Energy Minister Costas Skrekas and Egyptian Minister of Electricity and Renewable Energy Mohamed Saker El-Markabi.

The two ministers had agreed to sign a memorandum of cooperation.