Greece and Egypt sign deal on ‘mega’ electricity cable

Greece and Egypt are set to sign on Thursday a preliminary deal to build a large electricity cable connecting the two countries. [Shutterstock / yuttana Contributor Studio]

Greece and Egypt are set to sign on Thursday (14 October) a preliminary deal to build a large electricity cable connecting the two countries. It will be the first such agreement between Europe and Africa in the southeastern Mediterranean.

Greek Environment and Energy Minister Konstantinos Skrekas and Egyptian Electricity Minister Mohamed Shaker will sign a Memorandum of Understanding (MoU) that could develop into an Intergovernmental Agreement.

In the context of the interconnection of the Trans-European Energy Networks, the project is considering the prospect of integration into the European Union Projects of Common Interest (PCI).

Egypt is a producer of cheap renewable energy and currently has a surplus. The country has been in talks to sell power to Europe in a bid to become a regional export hub.

The MoU comes a year after a deal between the two countries designated an exclusive economic zone (EEZ) in the eastern Mediterranean and established legal rights over natural resources in the region.

(EURACTIV.gr)

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