Preparatory activities for the GREGY electricity interconnection project between Egypt and Greece are advancing into a new development phase, as project developer Elica launches a series of technical and environmental studies ahead of a planned Final Investment Decision (FID) expected in late 2027 or early 2028.
The company has issued an international tender for the project’s Environmental Impact Study (EIS), with bids due by 15 July. In the following weeks, additional procurement processes will begin, including geotechnical surveys for onshore infrastructure in both Greece and Egypt. A marine survey to determine the final route of the subsea cable is expected to start in late July or early August.
The results of these studies will be incorporated into the Front End Engineering Design (FEED) phase, scheduled to begin toward the end of 2026. This stage will define the final technical design, construction methodology, and cost structure, forming the basis for the investment decision and subsequent construction phase.
Backed by Greece’s Copelouzos Group, the GREGY project aims to transmit renewable electricity generated in Egypt to Greece and onward into European electricity markets. Commercial operation is targeted for 2031. The project has already been designated as both a Project of Common Interest (PCI) and a Project of Mutual Interest (PMI) by the European Union, while preparatory studies are being co-financed with EU support.
In parallel, Elica is advancing the development of the renewable generation portfolio that will supply the interconnection. The company is awaiting a presidential decree from Egyptian authorities to secure land access, which would allow permitting processes for the generation assets to proceed.
The planned generation portfolio includes approximately 9 GW of wind, solar, and battery storage capacity, with expected annual output of around 22 TWh. Construction of both the generation assets and the subsea transmission cable is expected to proceed in parallel, enabling synchronized completion for commercial operation.
The total investment, covering both renewable generation and transmission infrastructure, is estimated at approximately €13 billion.
