The 3,000-MW undersea cable aims to transport solar and wind energy, bolstering EU energy security and regional ties.
ATHENS, GREECE — In a significant move to enhance energy security and sustainability, Greece and Egypt have reaffirmed their commitment to the construction of a groundbreaking undersea electricity interconnection, set to transport renewable energy from North Africa to Europe. The announcement came on Wednesday during high-level talks between Greek Prime Minister Kyriakos Mitsotakis and Egyptian President Abdel Fattah el-Sissi in Athens.
The planned 3,000-megawatt undersea cable, which will span nearly 1,000 kilometers (620 miles) across the eastern Mediterranean, is designed to transmit electricity generated primarily from solar and wind sources developed in Egypt. This ambitious energy project has garnered strong backing from the European Union (EU), positioning it to receive substantial EU funding as part of its strategy to diversify energy sources and reduce reliance on Russian energy imports.
A Strategic Step for Europe’s Energy Future
Prime Minister Mitsotakis described the project as a vital step towards securing low-cost, renewable energy for Greece and broader Europe. He emphasized that the undersea cable would allow Greece to import competitively priced wind energy from Egypt and export it to European markets, helping meet the EU’s ambitious renewable energy targets.
“This will allow both Greece and Europe to import low-cost energy – primarily wind energy, which you are able to produce very competitively – and export it to Europe,” Mitsotakis stated during a joint press conference with President el-Sissi.
The cable is set to play a critical role in Europe’s energy transition, contributing to the EU’s efforts to increase reliance on renewable sources while reducing carbon emissions. The development comes at a pivotal moment as the EU aims to reduce its dependence on Russian energy following the Russian invasion of Ukraine in 2022, with energy security becoming a top priority for European leaders.
Details of the Project and Timeline
The proposed energy link is expected to cost approximately 4 billion euros ($4.5 billion) and is set to become operational within five years, according to an ambitious timeline outlined by both governments. The project will primarily focus on solar and wind energy production in Egypt, where conditions are ideal for large-scale renewable energy generation. The project will also see significant private sector involvement, with Greece’s Copelouzos Group playing a lead role in its development.
President el-Sissi stressed the broader implications of the interconnection, highlighting its strategic importance not only for Egypt and Greece but also for the wider region and Europe.
“This is not just a bilateral project, but a strategic step with regional and international dimensions,” el-Sissi remarked. “It is considered the first direct link for clean energy coming from Egypt to Europe through Greece.”
El-Sissi also emphasized the project’s potential to foster further cooperation between Egypt and the European Union, positioning it as a crucial part of Egypt’s evolving relationship with the EU, which has expressed keen interest in expanding energy partnerships with non-member countries.
EU Support for the Project
The European Union has long been committed to enhancing its energy security and sustainability, particularly in the wake of the war in Ukraine, which exposed Europe’s overreliance on Russian energy. As part of its energy diversification strategy, the EU has sought to strengthen ties with non-member countries that can offer reliable renewable energy sources.
The interconnection between Egypt and Greece is a prime example of this strategy, as it will help meet Europe’s energy needs while bolstering the EU’s green transition goals. The EU has already voiced its strong support for the project, with European leaders recognizing its potential to help the region meet its climate goals and reduce dependence on fossil fuels.
The proposed energy link also forms part of a broader trend of increasing collaboration between the EU and Mediterranean nations in the field of renewable energy. The project is expected to pave the way for similar initiatives in the future, as European leaders continue to seek sustainable energy solutions from neighboring countries.
Regional Cooperation and Broader Implications
In addition to energy cooperation, Mitsotakis and el-Sissi discussed a range of regional issues, including security and migration. The talks underscored Greece’s role as a steadfast ally of Egypt, particularly when it comes to fostering closer ties between Egypt and the European Union.
“Greece is a steadfast ally of Egypt, including on matters concerning your country’s relationship with the European Union,” Mitsotakis noted during the press conference. Athens has played a key role in strengthening Egypt’s political and economic ties with the EU, particularly in areas such as trade, security, and energy.
The bilateral talks also resulted in agreements to explore expanded energy cooperation, with both countries pledging to collaborate on additional renewable energy projects in the future. Furthermore, the two leaders discussed facilitating the seasonal employment of Egyptian workers in Greece, a key issue for both nations as they look to strengthen their economic ties.
Additionally, the discussions covered enhanced collaboration in sectors such as finance, defense, and culture, further cementing the growing partnership between the two Mediterranean countries.
A Renewed Focus on Renewable Energy in the Mediterranean
The undersea electricity cable project between Egypt and Greece is just one example of the growing focus on renewable energy in the Mediterranean region. With its abundant solar and wind resources, North Africa has the potential to become a key supplier of clean energy to Europe, offering a sustainable solution to the region’s energy challenges.
Both Egypt and Greece are well-positioned to lead this renewable energy push, with Greece already a key player in the EU’s renewable energy strategy and Egypt increasingly investing in large-scale solar and wind energy projects.
As the energy transition accelerates across Europe and North Africa, projects like the undersea cable will play an important role in shaping the future of the region’s energy landscape. By fostering collaboration between countries in the Mediterranean, the EU hopes to create a more secure and sustainable energy future for its citizens.
Conclusion: A Step Toward a Greener Future
The commitment from Greece and Egypt to the undersea electricity interconnection marks a significant milestone in both countries’ efforts to combat climate change and diversify their energy sources. With the support of the European Union, the project has the potential to reshape the energy landscape of the Mediterranean and provide Europe with a reliable and sustainable source of renewable energy for decades to come.
As the world transitions to cleaner energy, initiatives like the Egypt-Greece undersea cable demonstrate the importance of international cooperation in tackling global challenges. The project is not only an important step for energy security but also a testament to the growing commitment to a greener, more sustainable future.
