Egypt plans subsea solar energy exports to Europe

Egypt's government is planning to launch a subsea electricity cable with Greece to enable the export of solar energy to Europe. The initiative, known as GREGY interconnector, is led by the Greek conglomerate, Copelouzos Group, and Infinity Power, a joint venture between Masdar, the UAE-based renewable energy firm, and Egyptian company Infinity. The cable will have the capacity to transmit 3,000 MW of solar and wind energy, produced by Infinity Power, to Greece via a 1,400 km long subsea power cable. The project is touted as a 'great opportunity' for Europe by Carlos Torres, head of gas and power markets research at Rystad Energy, given Europe's initiative to reduce its dependence on fossil fuels. It offers a practical approach to taking solar energy from Egypt to the European mainland where it can be distributed to other countries. This comes at a time when there is a scramble for green alternatives to traditional energy sources, especially in the wake of Russia's invasion of Ukraine.