Egypt, Greece sign MoU for electrical interconnection

Egypt signed Thursday a memorandum of understanding (MoU) with Greece to study the establishment of the electrical interconnection project between both countries through a submarine electric cable.

The MoU was signed by the Egyptian Ministry of Electricity and the Ministry of Environment and Energy of Greece.

According to MoU, the submarine electric cable will provide a direct link for the exchange of electricity between the two countries and extends to the market of the European Union.

The ministry stated, in a statement, Thursday, that the electrical interconnection project achieves many technical, economic, environmental and social benefits, as the project aims to establish a strong interconnection network in the eastern Mediterranean to improve the security and reliability of energy supply, in addition to helping in the event of breakdowns, interruptions and emergencies on transport networks and raising the degree of security electrical supplies.