IPTO MoU with Elica regarding prospective power cable connection between Egypt, Greece

Greece’s Independent Power Transmission Operator (IPTO) and the Elica S.A. company, part of the Copelouzos Group, this week announced a MoU foreseeing the commencement of exclusive talks over the prospect of the former participating in the latter’s share capital.

Elica is actively promoting its project for an undersea high-voltage cable connecting Egypt with mainland Greece via the large island of Crete, the Green Energy Interconnector (GREGY).

According to reports, one proposal revolves around partially state-owned IPTO acquiring a 33.3-percent share of Elica.

Among others, the MoU foresees talks between both sides and the Egyptian Electricity Transmission (EETC) operator.