{"id":546888,"date":"2022-06-01T03:45:24","date_gmt":"2022-06-01T03:45:24","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/01\/the-war-in-ukraine-is-accelerating-plans-to-link-our-electricity-grid-to-greece\/"},"modified":"2022-06-01T03:45:24","modified_gmt":"2022-06-01T03:45:24","slug":"the-war-in-ukraine-is-accelerating-plans-to-link-our-electricity-grid-to-greece","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/01\/the-war-in-ukraine-is-accelerating-plans-to-link-our-electricity-grid-to-greece\/","title":{"rendered":"The war in Ukraine is accelerating plans to link our electricity grid to Greece"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Plans to link our electricity grid with Greece could move faster aft<\/strong><strong>e<\/strong><strong>r the <\/strong><strong>shunn<\/strong><strong>ing <\/strong><strong>of Russian fossil fuels: <\/strong>The Greek developer of a proposed direct link between the electricity grids of Egypt and Greece expects the EU to accelerate the project as the bloc looks to transition away from Russian fossil fuels, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-05-31\/power-links-to-europe-get-new-life-in-push-to-cut-russian-energy?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a> reports. Renewable energy player Elica \u2014 a 50\/50 joint venture between big-time Greek infrastructure investor Copelouzos Group and Samaras Group \u2014 is applying to the EU for funding. Elica says that the European Investment Bank (EIB) and a number of Greek banks are on board to partially finance the EUR 3.5 bn project.<\/p>\n<p><strong>Introducing GREGY:<\/strong> The planned Greece-Egypt Interconnector (GREGY) will run almost 1.5k km from Wadi El Natroun directly across the Mediterranean to mainland Greece, according to an EU project document. It will have a maximum capacity of 3 GW and transmit only renewable energy generated in Egypt.<\/p>\n<p><strong>This is not the same thing as EuroAfrica:<\/strong> The <a href=\"https:\/\/enterprise.press\/stories\/2019\/05\/23\/egypt-signs-framework-agreement-with-cyprus-greece-power-linkage\/\">USD 4 bn EuroAfrica Interconnector<\/a> is a larger project that will connect Egypt to Cyprus, Crete and mainland Greece. The first leg of the 2 GW link between Egypt and Cyprus is expected to start \u201ccommissioning\u201d (an industry term for entering the final stages of pre-launch testing) this December, and the Cyprus-Crete section will commission in December 2023, according to <a href=\"https:\/\/www.euroafrica-interconnector.com\/at-glance\/project-timeline\/\">the project\u2019s website<\/a>.<\/p>\n<p><strong>It\u2019s goi<\/strong><strong>ng to take time before we see GREGY up and running:<\/strong> \u201cThe project needs European funding and the hope is to submit a financing request to the European Commission within the next 12 months,\u201d Manos Manousakis, CEO of Greek electricity grid operator Admie, told Bloomberg. Admie is working with the Egyptian Electricity Transmission Company on the design of the cable.<\/p>\n<p><strong>This has been in the works for 14 years:<\/strong> Plans for a Greece-Egypt link first surfaced back in 2008, but were shelved following the 2011 revolution, Bloomberg says.<\/p>\n<p><strong>GREGY isn\u2019t the only project that could be expedited:<\/strong> A parallel project that will link the grids of Israel, Cyprus and Greece has already received EUR 757 mn in funding from the EU. Construction on the EuroAsia Interconnector is expected to finish at the end of 2025 and commissioning in the first half of 2026. The line will have a 2 GW capacity and will transmit power generated by natural gas from Cyprus and Israel, as well as renewable energy.<\/p>\n<p><strong>Dash for energy:<\/strong> The report comes as the EU searches for new sources of energy to replace Russian oil and gas, which it's looking to transition away from in response to its invasion of Ukraine. The bloc this week announced that it would cut imports of Russian oil by 90% by the end of the year, and plans to end its dependency on gas later this decade. The EU imports 40% of its gas from Russia, forcing it to go in search of new suppliers in the eastern Mediterranean, Africa and the Middle East.<\/p>\n<p><strong>MORE INFRASTRUCTURE LINKS-<\/strong><\/p>\n<p><strong>Telecom Egypt + Saudi\u2019s Mobily shake hands on data link:<\/strong> Telecom Egypt and Saudi Arabia\u2019s <a href=\"https:\/\/www.mobily.com.sa\/wps\/portal\/web\/personal\/am-overview\/investor-relations?selectedTab=3\">Etihad Etisalat<\/a> (Mobily) have signed a MoU to link their internet networks via a new submarine cable, <a href=\"https:\/\/bit.ly\/3LZLB1Y\">CNBC<\/a> reports. The connection would expand Mobily\u2019s reach westward toward Europe through TE\u2019s network, and do the same for TE eastward into the Arabian Gulf through the Saudi telecom operator.<\/p>\n<p><strong>This could be part of 2Africa:<\/strong> It\u2019s not clear if this is related to the massive <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/28b96e2a-cedc-4100-97fe-69e8fd907e38\">2Africa subsea cable<\/a>, which will connect Europe to the Middle East and Africa via countries including Egypt and Saudi Arabia. As part of the project, TE lay a new cable linking Egypt and Saudi Arabia across the Red Sea.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Plans to link our electricity grid with Greece could move faster after the shunning of Russian fossil fuels: The Greek developer of a proposed direct link between the electricity grids of Egypt and Greece expects the EU to accelerate the project as the bloc looks to transition away from Russian fossil fuels, Bloomberg reports. Renewable [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":546889,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7207],"tags":[244,93,72,7192,1983,381,1984,7111],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-546888","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-electricity","tag-energy","tag-enterpriseam","tag-eu","tag-euroafrica","tag-greece","tag-gregy","tag-infrastructure","wpautop","entry"],"acf":{"mongo_id":"cb41cd3c-8caa-4f64-8682-be3dbf55dd71","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/6\/93.jpg","photo_position":"above","related_issue":[546882],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The war in Ukraine is accelerating plans to link our electricity grid to Greece - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/01\/the-war-in-ukraine-is-accelerating-plans-to-link-our-electricity-grid-to-greece\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The war in Ukraine is accelerating plans to link our electricity grid to Greece\" \/>\n<meta property=\"og:description\" content=\"Plans to link our electricity grid with Greece could move faster after the shunning of Russian fossil fuels: The Greek developer of a proposed direct link between the electricity grids of Egypt and Greece expects the EU to accelerate the project as the bloc looks to transition away from Russian fossil fuels, Bloomberg reports. 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John Karydas, the CEO of the renewables unit of Copelouzos \u2014 which together with Samaras Group is drawing up plans\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/electricity-energy.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":579331,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/02\/us-contractor-mcdermott-to-work-on-greece-africa-power-interconnector\/","url_meta":{"origin":546888,"position":1},"title":"US contractor McDermott to work on Greece\u2013Africa Power Interconnector","author":"enterpriseam admin","date":"2 February 2023","format":false,"excerpt":"Another Greece-Egypt electricity interconnector is in the works: The US contractor McDermott has signed an MoU with Greek renewables company Eunice Energy Group to work on a 2-GW interconnector that will link Greece and Egypt\u2019s electricity grids, according to a joint statement. The Greece\u2013Africa Power Interconnector (GAP) will transit the\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/2\/37.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549448,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/18\/gregy-egypts-rumored-world-cup-bid-get-attention-internationally\/","url_meta":{"origin":546888,"position":2},"title":"GREGY + Egypt\u2019s rumored World Cup bid get attention internationally","author":"enterpriseam admin","date":"18 September 2022","format":false,"excerpt":"On a slow morning in the foreign press, Egypt and Greece\u2019s 3 GW electricity interconnector is getting the most attention: Euronews and Africa News are both looking at the EUR 3.5 bn GREGY project, which will supply Europe electricity as it transition away from Russian fossil fuels amid a historic\u2026","rel":"","context":"In &quot;EGYPT IN THE NEWS&quot;","block_context":{"text":"EGYPT IN THE NEWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/egypt-in-the-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":549099,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/04\/egypt-greece-plot-9-5-gw-renewables-project-plus-private-sector-solar-tender-coming\/","url_meta":{"origin":546888,"position":3},"title":"Egypt + Greece plot 9.5 GW renewables project. Plus: Private sector solar tender coming?","author":"enterpriseam admin","date":"4 September 2022","format":false,"excerpt":"Egypt and Greece are working on a plan to add 9.5 GW of renewable power generation capacity in Egypt for export to Greece, according to an Ittihadiya statement Thursday. The electricity would be generated by wind and solar plants and would be shipped across the Mediterranean via subsea cables, the\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/107.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":590364,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/18\/egypt-greece-explore-ways-to-fund-the-gregy-interconnector\/","url_meta":{"origin":546888,"position":4},"title":"Egypt, Greece explore ways to fund the GREGY interconnector","author":"enterpriseam admin","date":"18 July 2023","format":false,"excerpt":"Three financing options are on the table, an Electricity Ministry source told us","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/704.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":586883,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/18\/infinity-power-copelouzos-could-partner-on-renewable-energy\/","url_meta":{"origin":546888,"position":5},"title":"Infinity Power, Copelouzos could partner on renewable energy","author":"enterpriseam admin","date":"18 May 2023","format":false,"excerpt":"Renewable energy would be sent to Europe via the proposed GREGY connector","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/wp-content\/uploads\/2021\/12\/electricity-energy.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546888","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=546888"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546888\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/546882"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/546889"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=546888"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=546888"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=546888"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=546888"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=546888"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}