Egypt has signed a landmark agreement to export 3,000 megawatts of electricity to Europe through the Greek grid, advancing its ambition to become a regional energy hub, the country’s Ministry of Petroleum and Mineral Resources announced.
The trilateral deal brings together the Egyptian Electricity Transmission Company (EETC), Greece’s Independent Power Transmission Operator (IPTO) and ELICA SA, a subsidiary of the Copelouzos Group. It paves the way for final studies on the Egypt–Greece interconnection project, a key step toward integrating Egypt’s power network with Europe’s unified electricity system.
According to the ministry, the planned link forms part of a broader strategy to position Egypt as a vital crossroads for energy flows between Africa, Asia and Europe. By connecting directly to the European grid, Egypt aims to bolster cross-continental power exchange while leveraging its expanding renewable energy capacity.
The agreement is seen as a decisive milestone for the GREGY interconnection, which seeks to transmit 100% clean electricity generated from Egyptian renewables to Europe via mainland Greece. GREGY would be the second major power link between the two countries, following the 2,000-MW EuroAfrica Interconnector that also involves Cyprus.
In parallel, EETC signed a separate cooperation deal on Nov. 13 with UAE-based K&K Investment Company to conduct final studies for another 3,000-MW electricity link connecting Egypt to Europe through Italy’s grid.
For Greece, the GREGY project is expected to help ease household energy costs by widening access to competitively priced clean power. It would also enable industrial consumers and electricity suppliers to secure long-term power purchase agreements (PPAs) at stable, attractive rates—reshaping the country’s electricity market and strengthening energy security across the region.
