Egypt, Cyprus contract European company to implement power linkage project

Egypt, Cyprus contract European company to link power grids: Egypt and Cyprus have reportedly reached an agreement in principle with an unnamed European company to link the two countries’ power grids, an unnamed source from the Electricity Ministry tells Al Mal. The project will cost an estimated USD 1.5 bn, the source says, and contracts should be signed by next year.

Background: President Abdel Fattah El Sisi had met in June with executives from EuroAfrica Interconnector to discuss the project after EuroAfrica finished feasibility studies. The project, which could see the two countries exchange up to GW of power, is also expected to extend into Greece and will take about 36 months to complete, sources had previously said.