Insider Business Historic agreement for Egypt-Europe electricity interconnector via Cyprus

Historic agreement for Egypt-Europe electricity interconnector via Cyprus

A historic framework agreement was signed in Cairo for the construction and commissioning of the EuroAfrica Interconnector which will interconnect the electricity networks of Egypt and Cyprus by the project promoter, EuroAfrica Interconnector Limited.

The agreement was signed in the main hall of the Council of Ministers of Egypt by EuroAfrica Interconnector CEO Nasos Ktorides and Eng. Sabah Mohamed Mashal, Chairperson of the Egyptian Electricity Transmission Company.

Also present at the signing ceremony were the Prime Minister of Egypt, Moustafa Madbouly, Eng. Gaber Dessouki, Chairman of the Egyptian Electricity Holding Company, Dr. Mohamed Shaker El-Markabi, Minister of Electricity and Renewable Energy, former Cypriot foreign minister and Chairman of the Strategic Council of the EuroAfrica Interconnector Dr. Ioannis Kasoulides, Cyprus Ambassador to Cairo Haris Moritsis, senior Egyptian government officials and EuroAfrica Interconnector executives.

The signed agreement follows the conclusion of viability studies conducted by the EuroAfrica Interconnector which showed the benefits of the project, as well as its maturity, allowing it to enter the implementation stage.

The agreement provides for the development of an electricity interconnection with the use of subsea high-voltage direct current (HVDC) cables with eth capacity to transmit 2,000MW. Furthermore, the agreement provides for the interconnection to be completed in two phases, the first being for the transmission capacity of 1,000MW which will be implemented within the timeframes and assurances provided to President El-Sisi.

In June 2018, President El-Sisi declared his full support and hailed the strategic relations between Egypt and Cyprus in all fields and highlighted the implementation of several and major electricity infrastructure projects which reinforce Egypt, transforming the country into an important power transmission and energy hub between Africa, Arab countries and a major electricity provider to Europe through Cyprus.

 

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