The importance of the Egypt – Greece GREGY electrical interconnection project for Greece, for Europe and especially for the area covered by the countries of the Three Seas Initiative, as well as the prospect of promoting Greece into an important energy hub in the SE Mediterranean and the wider region, was presented at the 3SI Business Forum 2026 of the Three Seas Initiative by Mr. Thomas Acheimastos, Vice President of the Copelouzos Group.
Mr. Acheimastos participated in the Conference panel with the topic: “Wiring the Three Seas”, which formed part of the “Strategic Enablers: Energy, Finance, Digital Power” track and addressed cross-border electrical interconnections and the critical energy transmission infrastructure across the wider Three Seas region. The Forum took place on 28 and 29 April 2026 in Dubrovnik, Croatia, under the Croatian Presidency of the Initiative, bringing together heads of state and government, ministers, senior European officials and leading representatives of the business community from the 13 EU Member States located between the Baltic, Adriatic and Black Seas.
In essence, the GREGY project establishes the Vertical Electricity Corridor for the countries of the Three Seas Initiative, completing the southern gateway of green energy from the Mediterranean towards Northern Europe.
Mr. Acheimastos underlined the importance of GREGY for shielding both the Greek economy and the economies of the Member States of the Three Seas Initiative, amid the continuous geopolitical turmoil in the wider region, by strengthening the security of energy supply both for Greece and for the area covered by the countries of the Three Seas Initiative, with energy diversification as the guiding principle.
In this way, the consumers of Greece and of the wider region will not be affected by international natural gas and CO2 prices, neither by global natural gas demand, nor by international geopolitical instability.
Protecting the energy market constitutes a strength for every country and for the entire Three Seas region and, as Mr. Acheimastos mentioned, energy security means National & European Security.
The GREGY project, which will be the first Africa-Europe interconnection project, will transfer 3,000 MW of clean energy from Egypt to Greece and Europe and is fully aligned with the European Union’s policy for the creation of vertical South-North energy corridors, which form the very backbone of the Three Seas Initiative itself. In this way, GREGY constitutes the cornerstone of the most important international interconnection for Greece, highlighting the country as an important energy hub and as a southern gateway for clean energy into the entire Three Seas region.
GREGY, as Mr. Acheimastos mentioned, by transporting clean energy at competitive prices and with a baseload profile, will transform Greece — and, by extension, the countries of the wider region — into attractive investment destinations for the implementation of significant energy-intensive investments, such as Data Centers with artificial intelligence, which also constitute a strategic priority of the digital agenda of the Three Seas Initiative.
With the implementation of GREGY, which is being developed by ELICA INTERCONNECTOR S.M. S.A. of the Copelouzos Group, Greek Industries, as well as the Industries of the countries of the region, will reduce their energy costs, which today constitute the most important survival parameter, especially for energy-intensive industries, and will acquire a competitive export orientation, while corresponding competitiveness benefits will be transmitted, through the cross-border interconnections, to the industrial bases of all the Member States of the Initiative.
At the same time, for Greece, thousands of new direct and indirect jobs will be created and the Greek economy will be significantly strengthened. The GREGY electricity interconnection will lead to the unification of energy markets — from South-Eastern to Northern Europe through the vertical corridors of the Three Seas — creating greater liquidity in the market, to the benefit of both Greek and European consumers.
The GREGY project, which has been included in the list of PCI/PMI projects of the European Union, in the Global Gateway framework, which includes critical infrastructure projects for Europe, as well as in the Action Plan of the PACT for the Mediterranean, recently announced by the Commissioner for the Mediterranean Ms Dubravka Suica, is a groundbreaking project, fully aligned with the vision of the Three Seas Initiative for integrated, resilient and cross-border infrastructure, with multifaceted energy, environmental, economic and geo-strategic benefits for Greece, for the Three Seas region and for Europe as a whole.
