Egypt and Greece have signed a memorandum of understanding to study the construction of the electricity interconnection project between the two countries through a submarine electric cable which provides for a direct connection for the exchange of electricity between Egypt and Greece and extends to the single market of ‘European Union .
This came during the Egyptian Minister of Electricity and Renewable Energy, Mohamed Shaker, in Greece today, Thursday.
A statement released by the Egyptian Ministry of Electricity stated that the electricity interconnection project achieves many technical, economic, environmental and social benefits: electricity, stimulating regional cooperation, pace and prosperity, promoting further development and increasing the participation of electricity generated from renewable energy sources in electricity interconnection projects and in the electricity mix both nationally and regionally.
The project represents an important part of the current strategic and cooperative relations between the two parties, which accelerates the development of the energy corridor by increasing the supply of electricity to both Egypt and Greece, balancing energy demand and stimulating the response to challenges. climate change and the reduction of emissions, which in turn contributes to the maintenance of the environment and its protection by using all available energy sources, in particularly by exploiting renewable energies. The project is also an important step forward to achieve the compatibility necessary to support the integration of renewable energies in the energy networks of the two countries.
It is worth noting that the electrical connection between the north and south of the Mediterranean will work to absorb the enormous energies that will be generated by the clean energy that abounds in the African continent.
Previously, the Egyptian government had pledged to produce 42% of its electricity needs from renewable energy sources by 2035, producing a surplus of solar energy that is difficult to store.
The first phase of the project, worth 2.5 billion euros, will connect the networks of the three countries and should enter in operation by December 2023, with an initial capacity of 1 gigawatt. The preparation of the project took some time, as Cairo, Athens and Nicosia signed the framework agreement for the project in 2019.
The project is a cable that will go from Egypt to Cyprus and then in Greece, where the cable will be approximately 1,650 km long with a capacity of 2,000 megawatts.
Egypt will be connected to Cyprus with a 498-kilometer cable, then Cyprus will be connected to the Greek island of Crete with an 898-kilometer cable. Provides a pan-European power grid connection e in some areas between Crete and Cyprus cables are laid at a depth of 3,000 meters below sea level.
Read More About: Business News