Egypt and Greece have reaffirmed their commitment to a groundbreaking energy project: a 1,000-kilometer underwater power interconnection designed to transport renewable energy from North Africa to Europe. This ambitious initiative, known as the GREGY (Greece-Egypt) interconnector, aims to enhance energy security, reduce carbon emissions, and strengthen regional cooperation.
The agreement was solidified during a high-level meeting in Athens on May 7, 2025, between Greek Prime Minister Kyriakos Mitsotakis and Egyptian President Abdel Fattah el-Sissi. Both leaders emphasized the project’s strategic importance, highlighting its potential to diversify Europe’s energy sources and decrease reliance on fossil fuels. The interconnector is expected to have a capacity of 3,000 megawatts, transmitting solar and wind-generated power from Egypt to Greece and, subsequently, to the broader European grid.
The GREGY interconnector will consist of a high-voltage direct current (HVDC) submarine cable stretching nearly 1,000 kilometers across the eastern Mediterranean. The project is estimated to cost approximately €4 billion ($4.5 billion) and is slated to become operational within five years. It has secured backing from the European Union, making it eligible for significant EU funding. The initiative is spearheaded by Greece’s Copelouzos Group, with private sector involvement playing a crucial role in its development.
The interconnector is poised to deliver substantial environmental benefits. It is projected to replace 4.5 billion cubic meters of natural gas annually and reduce CO₂ emissions by 10 million tons per year. The renewable energy transmitted through the cable will primarily be generated from 9.5 gigawatts of renewable energy sources, including solar and wind, developed and operated by Copelouzos Group in Egypt.
Economically, the project is expected to provide low-cost, clean energy to Greece and Europe, potentially lowering electricity prices and enhancing energy security. Approximately one-third of the energy will be consumed in Greece, mainly by Greek industries; another third will be exported to neighboring European countries; and the remaining energy will be used for the production of green hydrogen, which will also be exported to neighboring European countries.
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The European Union has expressed strong interest in expanding energy partnerships with non-member countries to diversify its energy sources … the invasion of Ukraine in 202 … . The GREGY project aligns with the EU’s strategy for the transition to green energy and the achievement of zero CO₂ emissions by 2050. It also contributes to promoting Greece as a vital hub of green energy in the wider region of the South-Eastern Mediterranean.
In addition to the energy interconnection, Greece and Egypt have signed agreements to boost cooperation in various sectors, including defense, finance, and culture. The agreements also facilitate expanded seasonal employment for Egyptian workers in Greece, reflecting a deepening bilateral relationship.
