The importance of the Egypt–Greece GREGY electricity interconnection project for Greece, the Eastern Mediterranean region, as well as for Europe as a whole, and its contribution to establishing Greece as an important energy hub in the Southeastern Mediterranean, was presented at the 10th Southeast Europe Energy Forum (SEEF 2026) of the Hellenic-American Chamber of Commerce by Mr. John Karydas, CEO of the Renewable Energy Sources & Energy Storage Unit of the Copelouzos Group and CEO of the company developing the GREGY project.

The Forum took place on Friday, September 4, 2026, and was organized by the Hellenic-American Chamber of Commerce, in cooperation with the Embassy of the United States in Greece, and in strategic partnership with the Atlantic Council and the Global Energy Institute of the American Chamber of Commerce, within the framework of the 90th Thessaloniki International Fair.

Mr. Karydas highlighted the importance of GREGY in shielding the Greek economy, particularly in light of the international geopolitical turbulence in the wider region, strengthening the security of our country’s energy supply and in enhancing energy diversification.

Shielding a country’s energy market constitutes a source of strength for the country and, as Mr. Karydas stated, energy security means National Security.

The GREGY project, which will constitute 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 North–South vertical energy corridors, constituting the cornerstone of the most important international interconnection for Greece and establishing the country as an important energy hub in the region.

GREGY, as Mr. Karydas noted, by transferring clean energy at competitive prices and with a baseload profile, will transform Greece into an attractive investment destination for the development of significant energy-intensive investment, such as energy-intensive Data Centers with artificial intelligence.

With the implementation of GREGY, which is being developed by the company ELICA INTERCONNECTOR S.M. S.A. of Copelouzos Group, Greek industries will reduce their energy costs, which today constitute the most important factor for their survival, particularly for energy-intensive industries, and will acquire a competitive export-oriented profile. At the same time, thousands of new direct and indirect jobs will be created, thereby significantly strengthening the Greek economy.

GREGY is a project of high strategic importance, as it has been included in the European Union’s PCI/PMI list and within the framework of Global Gateway, in which infrastructure projects of critical importance to Europe are included. At the same time, the project has been included in the European Union’s PACT Action Plan for the Mediterranean (Action Plan for the Mediterranean). The international positive impact of the GREGY project is also demonstrated by the fact that the project is included as one of the four projects in the “Eastern Mediterranean Gateway Act”, the recent draft legislation of the U.S. Congressional Committee on Foreign Affairs, aimed at promoting cooperation and stability in the Eastern Mediterranean region.

The development of the project is progressing at a rapid pace, with tender procedures for the assignment of the Environmental Study, the Marine Reconnaissance Survey and the Territorial Civil Works Study currently underway, the cost of which is co-financed by the European Union’s Connecting Europe Facility fund.

With the implementation of GREGY, Greece and Europe will enjoy very significant economic, social, environmental, energy and geopolitical benefits. The project transforms Greece’s geographical advantage into a strategic energy asset, attracting new investments and strengthening national economy and security.