The head of the Egyptian Electricity Transmission Company, Sabah Mashaly, announced that Egypt will conduct a tender to establish an electrical interconnection project between Egypt and the European Union, passing through Greece, and that this tender will be presented to a number of international consulting offices.

Mashaly said that this project has been under discussion between the Egyptian and European sides for two weeks, and the two sides agreed that the final cost of the project will be determined after the project is presented for tender and a study is prepared for its construction.

Mashaly added that the European Union – at the Egyptian-European Summit held on Sunday, March 17 – provided Egypt with loans, aid, and grants, and this project will be among the grant packages that the European Union will grant.

Discussions between Egypt and Europe on this project began in 2020. Egypt aspired to export electricity generated from the clean energy that characterizes Egypt, as well as its low energy prices.

In November 2023, officials told AWP that Egypt is striving to include this project among the European Union projects of mutual benefit, with this project extending from Egypt to the European continent via Cyprus and Greece by sea line, with an initial cost that may reach 5.5 billion euros.