General News

More Signs Greece Is Emerging as an Energy Hub

According to the Athens News Agency/Macedonia Press Agency (ANA/MPA) former California State Senator Andreas Borgeas is making the case that “Greece is emerging as an energy hub for Europe and an important geopolitical player and is willing to support multiple interconnections in order to become a leader in serving energy supply in the region.”

Borgeas, a Greek-American, “recently took over as CEO of the Greece-Africa Power (GAP) electricity interconnector, speaking at a company event on the project. According to the design, the Greece-Africa Power Interconnector will start in the Mesra Matruh region of Egypt and end in Atherinolakos, Crete, with a capacity of 2 gigawatts, a budget of €1.3 billion and a completion horizon of 2030.”

ANA/MPA noted that, “the second part of the project includes the South Aegean Interconnector between Crete and Attica with a budget of €1.5 billion.”

According to Borgeas, ANA/MAP reports, “the project is a candidate for inclusion in the list of projects of European interest (PCI), which will facilitate its permitting and financing. Mr. Borgeas said, however, that there is interest from French and Egyptian companies to participate in the project…but that the real competition is in Brussels to ensure that it is included in the PCI list (expected to be announced in November) and that priority is not given exclusively to Europe-Africa interconnections from other Mediterranean countries.”

(Material from ANA/MPA was used in this article)



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