A major milestone has been reached in accelerating the flagship Egypt–Greece electricity interconnection project (GREGY), a cornerstone for strengthening Europe’s energy security and advancing the green transition. On Wednesday, 28 Jan. 2026, the competent service of the European Commission approved a 9.56 million euros grant to fund the next phase of studies for the project.
Momentum is building following the completion of the initial studies, with development now moving into a critical new stage. This includes the launch of the Marine Reconnaissance Study, which will involve seabed mapping using a specially equipped survey vessel.
The GREGY Project
GREGY aims to establish a vertical green energy corridor from South to North. The interconnection will enable the transmission of clean, competitive, and continuously supplied electricity generated from renewable sources in Egypt to Greece and onward to the wider European market.
Egypt’s exceptionally high solar and wind capacity factors will be harnessed to meet Europe’s steadily rising demand for green energy, particularly as part of the EU’s strategic effort to reduce dependence on Russian natural gas and reinforce security of supply.
GREGY is expected to enhance consumer welfare, improve industrial competitiveness, and position Greece as a key energy hub in Southeast Europe, delivering tangible benefits to the national economy and energy security.
The European Commission’s decision further underscores strong EU backing for the project, following its inclusion on the Union’s list of Projects of Common/Mutual Interest and among the flagship infrastructure initiatives of the EU’s Global Gateway programme.
The project’s strategic importance is also gaining recognition beyond Europe. Just days earlier, the U.S. House of Representatives Committee on Foreign Affairs approved the “Eastern Mediterranean Gateway Act,” aimed at boosting connectivity and security in the Eastern Mediterranean. GREGY is listed among the four projects of strategic significance highlighted in the legislation.
