Copelouzos, InfinityPower sign GREGY MoU

Copelouzos Group, through its subsidiary companies Damco Energy and Elica Mediterranean Interconnection, and Infinity Power, a joint venture between Masdar (Abu Dhabi Future Energy Company) and Egypt's Infinity, have signed a memorandum of understanding in order to access, on a non-exclusive basis, the possibility of jointly developing renewable energy projects that will provide the GREGY power interconnection with a source of green energy.

The GREGY - Green Energy Interconnector project involves the electrical interconnection of Egypt directly with mainland Greece through a submarine cable of 3,000 MW capacity and the possibility of bidirectional energy transmission.

The GREGY project will carry 100% green energy from Egypt to Greece, and through Greece to Europe, thus making a decisive contribution toward tackling climate change and the greenhouse effect by...