Egypt’s Infinity Energy announced on Wednesday it is partnering with Copelouzos Group on transferring green energy to Europe. The two parties will cooperate on the Egypt-Greece subsea transmission project (GREGY), which has the capacity of 3,000 MW.
It is estimated the project would cost around $3.8 billion and extend to 950 km. Infinity CEO, Nayer Fouad said they are working on “establishing ourselves as a significant green energy supplier, beyond Africa.”
He also outlined that the project will contribute to realizing the goals of COP27 held last November. While, Christos Copelouzos, chairman and CEO referred to how GREGY project will “support Europe in its efforts towards achieving energy diversification and security.”
Mohamed Ismail Mansour, chairman of Infinity Power applauded the GREGY plan for being “a key venture in promoting international co-operation.” He also added it will enhance Egypt’s energy security, and provide the country with diverse economic benefits.
