The financing of the initial cost-benefit studies for the new electricity interconnection Greece-Egypt by the newly established financial mechanism REPowerEU of the European Union, was agreed at a working meeting yesterday in Cairo, the President and CEO of the Independent Transmission Operator. Manos Manousakis and the President and CEO of the Egyptian Electricity Transmission Company (EETC) Mr. Sabah Mohamed Mashaly.
Following the progress made in the financial part of the new international interconnection, the Administrations of the two Managers, who met in an excellent atmosphere for the second time in two months, jointly assessed that it is realistic to plan for the start of the project in less than one year. Contributing to this optimistic forecast is the fact that the European Union provides direct access to REPowerEU funds, which aims to support funding projects that help reduce energy dependence on Russian fossil fuels and promote a green transition.
During yesterday’s meeting, Mr. Manousakis and Mrs. Mashaly:
– They discussed at length the plans and time planning for the development of Renewable Energy Sources in Egypt and together they realized that it is necessary to have green energy production that will be channeled exclusively to Europe, through the new interconnection.
-Agreed that the accompanying development projects of the Electricity Transmission Systems in Greece and Egypt should be part of the project of the new electrical interconnection.
– They highlighted the need to create “green corridors” both in Egypt and in various parts of Europe in order to fully utilize the renewable potential of Egypt and the country to become a reliable, alternative energy source for the European continent.
The President and CEO of IPTO Mr. Manos Manousakisstated:
“The Greece-Egypt electricity interconnection is part of the overall design of our international interconnections through which Greece is transformed into a critical energy hub in the Southeastern Mediterranean. Our goal is to start the project in a short time and we are working intensively in this direction. excellent cooperation with the Administrator of Egypt “.
It is recalled that the day before yesterday IPTO and the Group’s subsidiary, Grid Telecom, signed in the Egyptian capital a new agreement with Telecom Egypt, regarding the telecommunication interconnection of the two countries, through Crete.
Source: Capital
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