Infinity Power inks deal to bring energy via 3GW submarine cable to Greece

The cable will only carry green energy to Greece from Egypt. Image: Unsplash

Infinity Power and Greek infrastructure investor Copelouzos Group has signed a Memorandum of Understanding (MoU) to develop a project that can carry green energy from Egypt to Europe.

The Green Energy Interconnector (Gregy) project involves the electrical interconnection between Egypt and mainland Greece through a submarine cable of 3GW capacity and the possibility of bidirectional energy transmission. Claiming to only carry green energy from Egypt to Greece, and through Greece to Europe, the project aimed to provide alternative clean and renewable energy sources and routes for Europe, thereby reducing the continent’s dependency on energy produced from fossil fuels.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Infinity Power added that to maximise the utilisation of the project, necessary renewable energy projects with a capacity of about 9.5GW are required.

“By supplying renewable energy to Europe, we are not only bolstering our own economy but also positioning ourselves as a key player in the global energy market. This project is a remarkable opportunity for Egypt to benefit through economic development and revenue growth,” said Mohamed Ismail Mansour, chairman of Infinity Power.

Greece has been developing its solar capacity as Greek developers GH Energy and AA Sunshine planned to develop solar power parks in mainland Greece and Crete with Finnish investment company Korkia. Korkia targeted a renewable capacity of over 1GW, with the projects including energy storage to help in the balancing of the electrical system. With a target to start construction of the solar PV projects in 2024, Korkia has partnered with GH Energy in Thessaly and AA Sunshine in Crete.

Read Next

April 1, 2024
Gareth Simkins examines the winning projects of AR5 and looks ahead to assess how solar is likely to fare in future rounds.
October 31, 2023
Renewable energy developer Hive Energy has sold four solar projects with a combined capacity of 267MW to German solar developer Juwi.
October 30, 2023
Spanish solar tracker provider PV Hardware (PVH) has secured a 230MW PV tracker supply for a project in Egypt.
October 13, 2023
US tracker manufacturer GameChange Solar has announced plans to supply solar trackers to the 560MW Kom Ombo solar farm in Egypt.
October 12, 2023
Novelis has partnered with the Southern Company to build two new solar power plants in the US with a combined capacity of 80MW.
October 2, 2023
Voltalia has published its financial results for the first half of 2023, which include a 44% growth in turnover in energy sales.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
July 2, 2024
Athens, Greece
Solar Media Events
July 9, 2024
Sands Expo and Convention Centre, Singapore
Solar Media Events
September 24, 2024
Warsaw, Poland
Solar Media Events
September 24, 2024
Singapore, Asia