Project update:Greece + KSA launch interconnection project company: Saudi Arabia’s National Grid and Greece’s Independent Power Transmission Operator (IPTO) have set up a 50-50 joint venture by way of a special purpose vehicle dubbed Saudi Greek Interconnection to connect KSA to the European continent, according to a statement. The JV will conduct a feasibility study on connecting the two countries’ electricity grids and enabling the exchange of renewable energy.

We knew this was coming: The two companies said in October they were forming a 50/50 joint venture to link their power grids to deliver greener, more affordable energy to Europe. The news followed an agreement between the governments of Greece, Cyprus, and Israel to establish a subsea electricity transmission cable linking their respective national grids to increase energy cooperation.

Part of EU’s bigger import plans: The EU has identified MENA countries as suitable partners to help them diversify their energy mix away from Russian imports due to the country’s high potential for solar and hydrogen energy production, as well as their geographical proximity, according to a plan proposal (pdf) published by EU Commission in 2022. The proposal identified Algeria, Qatar, Saudi-Arabia, the Emirates, and Iraq as the most capable in the short run, German think tank Bertelsmann Stiftung.

And the bloc isn’t wasting any time: Egypt is also in talks with Greece for the planned 3 GW Egypt-Greece Interconnector which would see Egypt export its renewables surplus to mainland Greece, and is finishing up the first phase of its interconnection project with Saudi as it plans to export renewable energy. Saudi Arabia is also establishing its own 1 GW electrical interconnection project with Iraq, and Morocco is looking to lay a 3.8k km HVDC subsea cable to eventually transport 3.6 GW of renewable energy to the UK. Tunisia is also working on a planned electrical interconnection project with Italy.

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