Egypt, Greece to launch electrical wiring interconnection system with €3.56bn investment
Egypt has agreed to launch an electrical wiring interconnection system (EWIS) between Egypt and Europe via Greece with €3.56bn investment.
The project will export clean energy from Egypt to Europe via Greece, and Greece will use part of the energy, and export the bulk to European countries.
The project comes as part of the plan to develop long-term renewable energy sources to feed the electric interconnection project with green energy. The plan is to consist of renewable energy projects.
John kardys, CEO of Copelouzos Group, who implemented the project, said on the sidelines of a round table at the climate conference, that the project demonstrates the strategic direction in which Europe must move today, which is in line with its aspirations for independence with regard to the aftermath of the Russian-Ukrainian war and its impact on the arrival of gas to Europe. Pointing out that Europe aims to achieve independence with regard to fossil fuels and Russian natural gas, as well as achieving the goals of dealing with the climate crisis due to the fact that the project is 100% green.
Kardys added that the capacity of the line that will connect Egypt and Greece will reach about 3000 megawatts, and contribute to the European goal of the FIT 55 standard and the elimination of carbon dioxide emissions by 2050, forcing Europe to search for alternative sources and ways of green energy.
In line with the European Union’s strategy to shift to green energy and reduce dependence on fossil fuels and Russian gas.