McDermott and Eunice Energy Group have signed a memorandum of understanding (MoU) to cooperate on a 2 GW electrical interconnector between Greece and Egypt.
Eunice Energy Group is leading the transnational consortium between Greece and Egypt for the Greece-Africa Power (GAP) Interconnector project, which aims to contribute to regional energy security and stability by facilitating intercontinental clean energy transfer.
As part of the consortium, McDermott will provide engineering and construction guidance for the project.
“This is an MOU of strategic importance at a time when Europe is working to ensure energy security,” said Michael McKelvy , McDermott’s President and CEO. “I am proud to join forces with Eunice Energy Group on the GAP project and help build the future of energy in the region.”
According to George Kalavrouziotis, Eunice Energy Group CEO, the interconnector will help Egypt export its surplus power to Europe, and enable Greece to export its domestically produced green energy into the Balkans and Italy, thus contributing to Europe’s energy independence from Russia’s energy resources.
“Eunice is thrilled to partner with an American industry leader like McDermott. The GAP Project is the leading electrical interconnection project in the East Mediterranean region, being at the top of the list in terms of technical feasibility and regulatory approval,” Kalavrouziotis said.
GAP will connect Egypt’s North Mediterranean coast and Greece on the island of Crete.
A new HVDC conversion station close to the existing thermal power plant of Atherinolakkos in South-East Crete will be the connection point to Greece.
The connection point in Egypt will be on its Northern coast located South of Crete, where the bulk of the country’s electrical load and HV transmission grid infrastructure is located.