ATHENS – Greek Environment & Energy Minister Kostas Skrekas on Monday addressed the 27th Conference of the Parties of the United Nations Framework Convention on Climate Change (UNFCCC, COP27) that is being hosted in Sharm El-Sheikh, Egypt, November 6-18.

The Greek minister outlined the significance of the ‘GREGY’ electricity interconnector project, which will transfer clean, green energy from Egypt to Europe via Greece.

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The 3.6-billion-euro project has the capacity to transfer 3,000 MW of clean energy, noted Skrekas, “while Greece will benefit greatly from the construction of the cable, as part of the transferred green energy will be consumed in Greece, reducing energy costs for Greek consumers,” he emphasized.

“We are investing in the transformation of Greece into a green energy hub, and contributing to strengthening Europe’s security in this area. The Greek and Egyptian governments are firm supporters of the project, having also signed a relevant Memorandum of Cooperation (MoC) since October 2021.”

Skrekas also referred to Greece’s initiatives for phasing out fossil fuels, pointing out that “Greece is a pioneer in developments in this field, and is among the member states with top performance in the installation of new RES projects. We are accelerating the green transition, and implementing numerous infrastructure projects which bring us one step closer to the goal of climate neutrality.”