Greece launches tenders for Egypt electricity link, economic updates follow

Greece is advancing the strategic GREGY electricity interconnection project with Egypt, a significant step towards enhancing energy infrastructure in the Eastern Mediterranean and Europe. ELICA, a member of the Copelouzos Group and the project's implementing body, has announced two new tenders for engineering studies related to the project's onshore components and seabed research.

The GREGY project envisions an electricity link between Greece and Egypt with a substantial transmission capacity of 3,000 MW, utilizing high-voltage direct current technology at ±525 kV. This initiative is recognized by the European Union as a priority project (PCI/PMI) and receives funding from the Connecting Europe Facility (CEF). The project is expected to yield considerable energy, environmental, socioeconomic, and geopolitical benefits for Greece, the wider region, and the European continent.

In separate economic news, a recent Eurostat report indicates that 46.6% of Greeks are unable to afford a week-long vacation, placing Greece second only to Romania (61.4%) in the European Union for this metric. Given rising costs for accommodation, ferry tickets, and fuel, this figure is likely to increase this year.

The article also touches upon other domestic developments, including strong participation in the Hellenic Public Employment Service (DYPA) programs in Attica, where over 60,000 individuals engaged in various initiatives over seven years, contributing to a significant decrease in registered unemployment. Additionally, a €87.9 million contract has been signed for an irrigation project in Lasithi, Crete, which includes the construction of a reservoir and related infrastructure to serve approximately 6,000 acres of farmland.