Egypt and Cyprus on Saturday signed in Nicosia a preliminary deal to build a large electricity cable connecting the two countries.
The EuroAfrica Interconnector agreement has been sealed by the island’s Energy Minister Natasa Pilides and Egypt’s visiting Electricity Minister Mohamed Shaker.
At the same time, Greece and Egypt on Thursday also inked the trilateral agreement – the first between Europe and Africa in the southeastern Mediterranean.
Egypt, which has a surplus of electricity, began talks a year ago to sell power to Europe, pressing its advantage as a producer of cheap renewable energy in a bid to become a regional export hub.
Discussions with Cyprus and Greece over recent months focused on how to build a subsea cable linking the three countries.
Egypt signed an initial agreement on the EuroAfrica Interconnector with Cyprus and Greece in 2019 with the leaders of the three nations declaring their support for the project in October 2020.
The interconnection project is in line with the objectives of the diverse Energy Strategy of the Cypriot Ministry of Energy, Commerce and Industry for a speedy transition to the green economy.
At the same time, it will help lift the country`s energy isolation, ensuring energy supply and strengthen the effort to further develop renewable energy sources.
