Greece and Egypt have reaffirmed their commitment to an underwater electrical connection proposal designed to transport renewable energies from North Africa to Europe.
Greek Prime Minister Kyriakos Mitsotakis and Egyptian President Abdel Fattah El-Sissi renewed the commitment during the talks in Athens, following the signing of the cooperation agreements in several sectors.
The planned capacity cable of 3,000 megawatts will extend almost 1,000 kilometers under the eastern Mediterranean and has obtained support from the European Union, which makes it eligible for significant financing of the block.
“This will allow Greece and Europe to import energy at low cost – mainly wind energy, which you are able to produce very competitively – and export it to Europe,” said Mitsotakis.
The project, estimated at around 4 billion euros, should become operational within five years as part of an ambitious calendar established by the two governments.
It aims to transmit a solar power and generated by the explicitly developed wind for the project in Egypt, with an involvement of the private sector led by the Cuvelouzos group of Greece.
El-Sissi highlighted the strategic importance of the project.
“It is not only a bilateral question-it is a strategic regional project, because it creates a direct link that will extend to Europe via Greece,” he said.
“We are counting on the support of the European Union at this major initiative.”
The EU expressed its strong interest to extend energy partnerships with non -member countries in order to diversify its energy sources and reduce its historical dependence on Russian energy following the large -scale invasion of Ukraine in 2022.
Mitsotakis and El-Sissi also discussed regional security, the challenges of migration and the means of deepening Egypt's relations with the European Union.
“Greece is an unshakable ally of Egypt, including on questions concerning the relations of your country with the European Union,” said Mitsotakis, stressing the role of Athens in promoting the bonds closer to EU-Egypt.
The talks in Athens have concluded agreements to explore cooperation in additional energy, facilitate the extended seasonal employment of Egyptian workers in Greece and improve collaboration between the financial, defense and cultural sectors.
