Egypt and Cyprus on Saturday signed in Nicosia a preliminary deal to construct a big electrical energy cable connecting the 2 nations.
The EuroAfrica Interconnector settlement has been sealed by the island’s Power Minister Natasa Pilides and Egypt’s visiting Electrical energy Minister Mohamed Shaker.
On the identical time, Greece and Egypt on Thursday additionally inked the trilateral settlement – the primary between Europe and Africa within the southeastern Mediterranean.
Egypt, which has a surplus of electrical energy, started talks a 12 months in the past to promote energy to Europe, urgent its benefit as a producer of low-cost renewable power in a bid to change into a regional export hub.
Discussions with Cyprus and Greece over current months centered on easy methods to construct a subsea cable linking the three nations.
Egypt signed an preliminary settlement on the EuroAfrica Interconnector with Cyprus and Greece in 2019 with the leaders of the three nations declaring their assist for the venture in October 2020.
The interconnection venture is in step with the targets of the varied Power Technique of the Cypriot Ministry of Power, Commerce and Trade for a speedy transition to the inexperienced economic system.
On the identical time, it would assist carry the nation`s power isolation, making certain power provide and strengthen the trouble to additional develop renewable power sources.