Greece and Egypt have reiterated their support for a major undersea electricity project that aims to carry renewable energy from North Africa to Europe. During a meeting in Athens on Wednesday, Greek Prime Minister Kyriakos Mitsotakis and Egyptian President Abdel Fattah el-Sissi confirmed their joint commitment to the proposed interconnection.
The project involves a 3,000-megawatt undersea power cable that will run nearly 1,000 kilometers (620 miles) across the eastern Mediterranean. Supported by the European Union, the initiative is eligible for substantial EU funding.
“This will allow both Greece and Europe to access affordable renewable energy – particularly wind energy, which Egypt can produce at very competitive rates,” Mitsotakis stated during a press briefing alongside el-Sissi.
Estimated at around 4 billion euros ($4.5 billion), the cable is targeted to be operational within five years. It will carry solar and wind power generated in Egypt specifically for this initiative. Greece’s Copelouzos Group is taking a lead role in the private sector aspect of the project.
President el-Sissi emphasized its wider impact. “This is more than a bilateral initiative – it’s a strategic regional project that will link Egypt to Europe through Greece,” he said. He also stressed the importance of continued EU support.
The European Union has shown growing interest in energy cooperation with non-EU countries to diversify its energy supply, particularly in response to reduced reliance on Russian energy following the 2022 invasion of Ukraine.
In addition to energy, Mitsotakis and el-Sissi discussed regional security, migration, and ways to strengthen Egypt’s partnership with the EU. Mitsotakis reaffirmed Greece’s role as a strong ally of Egypt and a supporter of closer EU-Egypt relations.
Their discussions concluded with several new cooperation agreements, including plans for broader energy collaboration, expanded seasonal employment opportunities for Egyptian workers in Greece, and joint efforts in finance, defense, and culture.
