GREGY – Elica S.A. by Copelouzos Group

GREGY INTERCONNECTOR

Electrical Interconnection of the Greek & Egyptian Power Systems:
green transition and energy security

The «GREGY Project» interconnects the Electric Power Systems of Egypt and Europe through Greece for the transfer of 100% clean energy produced from renewable energy sources in Egypt capturing the high-capacity factors in the area, which will be used for consumption by the Greek industry, for the production of green H2 in the country and for export to European countries.

Τhe project has been included in the Ten-Year Network Development Plan (TYNDP 2022) of ENTSO-E, leading to its candidacy for inclusion in the 6th PCI/PMI (Projects of Common Interest/Projects of Mutual Interest) list;

The project also satisfies the criterion set by the E.U. Regulation 347/2013 of cross-border impact, enhancing the transfer capacity of the existing networks between Greece and E.E. countries by at least 700MW.

The project has been included in the 1st PCI/PMI list of the European Union and has already been included in the EU's Global Gateway priority project list, which includes among others critical and strategic infrastructure for the European Union, as well as in Entso-e's TYNDP 2024 (Ten-Year Network Development Programme).

It shows the strategic direction in which Europe must move today in the context of its energy independence on fossil fuels and Russian natural gas, as well as the achievement of the goals for dealing with the climate crisis.

As the electrical interconnection will serve not only Greece but also Europe, all energy benefits will be shared by all neighboring European countries. This favorable project for Greece, Egypt and Europe has significant benefits :

Contributes to both the Climate Change and the Greenhouse Effect prevention, through the usage of clean and renewable energy.

Provides alternative energy sources and energy routes for Europe

Improves quality, reliability and security of supply in both the Egyptian and Greek systems

Supports energy differentiation

Provides a range of wider consumer and economic benefits, including a large number of jobs and significant business opportunities

Lower energy costs for consumers and businesses

Enhances the electricity safety in Egypt due to its bidirectional transmission of electricity capability for transferring energy to Egypt from Greece

Makes Greece a significant energy hub in the region

Transforms Egypt into an important exporter of clean energy in Southeastern Europe

Also, GREGY INTERCONNECTOR is proposed to be included in the RepowerEU framework

Numericals:

Up to 61,000 MW by 2035 Egypt’s total installed RES capacity

3,000 MW transfer capacity

Replace up to 26 TWh of electricity from fossil fuels

Replace amounts to 4.5 bcm of natural gas

Contribution to the EU’s target for reduction of CO2 emissions by at least 55% by 2030

Reduction CO2 emissions by – 10 mil. tones

Bi-directional interconnection with a capacity of 3,000 MW

High Voltage Direct Current Link (HVDC, 500kV)

Direct Interconnection between Egypt and Greek mainland (Attica)

The estimated budget of the project amounts to € 3.569bn

The new target of Europe for FiT 55 and the elimination of the CO2 emissions by 2050,
force Europe to seek alternative sources and routes for green energy

The project is fully in line with the European Union's strategy for the transition to green energy and the reduction of dependence on fossil fuels and Russian gas.

Greek