indirect support United Arab Emirates provided the GREGY – Green Energy Interconnector project, which connects Greece with Egypt, a project that is supported by the governments of Greece and Egypt, as well as the leaders of the energy systems of the two countries. OUR Copelouso Group through its subsidiaries Damco Energy and ELICA (project executor) signed a memorandum of cooperation with Infinity Power, a joint venture between Masdar (Abu Dhabi Future Energy Company) and Egyptian Infinity to explore the possibility of joint development of projects. RESwho will eat green energy cable Electrical interface GREGY.

According to a joint statement from the three companies, the Memorandum of Cooperation provides for the establishment of a Steering Committee of three members to coordinate discussions, share information and negotiate. Through their cooperation, the parties will seek to use their knowledge, experience and technical, commercial and financial know-how for the rapid development, implementation and successful operation of renewable energy projects.

The memorandum of cooperation follows an agreement signed last year between the United Arab Emirates and Greece during a visit by the prime minister. Kyriakou Mitsotakis in Abu Dhabi to set up a €4 billion investment vehicle between ADQ, the Hellenic Development Bank (HDB) and the Hellenic Development Investment Bank (HEIB).

Infinity Power is a joint venture between the Egyptian company Infinity and Masdar (Abu Dhabi Future Energy Company), which focuses on renewable energy projects, namely utility, commercial and industrial-scale solar and wind technologies in Africa. With current projects located in Egypt, South Africa and Senegal, Infinity Power aims to expand its operations to the markets of all 54 African countries, providing electricity to all regions of Africa that are experiencing the greatest energy demand.

The total capacity of the existing Infinity Power projects is 1.3 GW, which is equivalent to reducing more than 3 million tons of CO2 emissions per year, which are produced using conventional electricity generation. The company also has 13.8 GW of projects in development that are at various stages of implementation. The GREGY project will connect Egypt directly to mainland Greece via a 3,000 MW submarine cable with bi-directional power transmission capability. It is a candidate for inclusion in the list of EU projects of general interest. (PCI) and the signed memorandum of cooperation is expected to strengthen the criteria for securing its funding from European funds.