The GREGY Interconnector, a 3.5 billion-euro project being promoted by Elica, a subsidiary of the Copelouzos group, to link the Greek and Egyptian grids, is fully backed by the Greek energy ministry, RAE, the Regulatory Authority for Energy, Egypt and Bulgaria, a presentation in Brussels last Friday of European projects seeking PCI/PMI list inclusion has shown.
This Greek-Egyptian grid interconnection, whose cable is planned to cover a 950-km distance, promises to transmit green energy to Europe.
Greece, it has become apparent, favors the development of the GREGY Interconnector over the Eunice Group’s alternate GAP Interconnector for a Greek-Egyptian grid link.
Hundreds of European projects seeking PCI/PMI list inclusion, which will secure EU support funds, were presented at last Friday’s Brussels event, staged by the European Commission’s Directorate-General for Energy.
Support for PCI/PMI list candidate projects by relevant ministries, respective national regulatory authorities, as well as states involved will weigh heavily in the European Commission’s overall assessment.
The GREGY Interconnector should score highly in this department, given the comprehensive support of the project by all parties involved.
Besides official Greek and Egyptian support, the GREGY Interconnector has also received Bulgaria’s backing as it promises to export Egyptian-generated green energy to the country.
Brussels’ shortlist of PCI/PMI projects is expected to be announced in June, while a finalized list should be announced late in the year.