Egypt, Greece, and Cyprus have signed a Memorandum of Understanding to study
the project Interconnector, an undersea cable connecting the power grids of the
three countries to the European electric network with 2000MW. The aim is to
bring significant economic and geopolitical benefits to the three Mediterranean
countries, while at the same time contributing to the European Union’s target for
10 per cent of electricity interconnection between member states.
President of EuroAfrica Interconnector Nasos Ktorides said that: “Greece will
increase its energy efficiency, and become a major player in the European energy
arena, Cyprus will be an electricity hub in the south eastern Mediterranean and
Egypt will become an important energy hub for Africa and electricity carrier for
the European continent,” he said.
Egypt’s Minister of Electricity and Renewable Energy, Muhammad Shaker
highlighted the importance of the submarine electric cable as part of an Egyptian
strategic plan for economic development and energy security. Dr Shaker
emphasised both his personal commitment and that of President Abdel-Fattah al-
Sisi and the Egyptian government to “bring this great venture to fruition”.
11 February 2017