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EETC, ELICA and IPTO Plan to Enter in the GREGY Interconnector with 33% Share

By: Rameeza Haq Duggal 05/05/2023 4C Offshore

Cables General Interconnectors

A Memorandum of Understanding (MOU) has been signed between Greek TSO, Independent Power Transmission Operator S.A. (IPTO) and ELICA SA, a member of Copelouzos Group and owner of GREGY interconnector project, regarding IPTO’s entry into the share capital of the GREGY Interconnector.

It provides for the establishment of a Steering Committee, consisting of four members, to coordinate the discussions, the exchange of information and the negotiations for the drawing up of the necessary contracts.

The Memorandum also considers including Electricity Transmission System Operator of Egypt (EETC) in the discussions. The intention of the parties is for EETC, ELICA and IPTO to acquire a 33.3% share each. Furthermore, it is expected that IPTO may undertake, in collaboration with ELICA, additional studies on internal transmission infrastructure projects that may be required to ensure the interconnection of the national transmission systems with the GREGY project.

The 3GW GREGY Interconnector project concerns the construction of an HVDC interconnector within the Mediterranean Basin, connecting Egypt and Greece. The 525 kV GREGY project will comprise around 954 km subsea cables and 530 km land cables along a 1472 km cable route, from Wadi-El-Natroon (Egypt) to Attica area (Greece). GREGY interconnector will trasnsfer 100% green energy from Egypt to Greece, and through Greece to Europe, thus making a decisive contribution to tackling climate change and the greenhouse effect by significantly reducing CO2 emissions.

The project has been planned to commission in 2028.

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EETC, ELICA and IPTO Plan to Enter in the GREGY Interconnector with 33% Share

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