In countries like the United Arab Emirates, financiers are exploring new projects to transfer renewable electricity from North Africa to Europe. One such project, known as Gregy, involves the construction of a 950-kilometer submarine cable between Greece and Egypt, with the aim of becoming a vital project on the EU’s list. The Copelouzos Group in Greece, led by CEO Dimitris Copelouzos, is in negotiations with the Egyptian president to make this project a reality.
Similarly, the Italian government is also in talks with Egypt about a submarine cable that would deliver renewable electricity to Dolo, near Venice. This three-gigawatt cable would span 2,800 kilometers along the Adriatic Sea to Venice, serving the industrial sector in Italy. Companies like Siemens Energy and Prysmian, along with an investment firm from the United Arab Emirates, are already involved in the planning and implementation of these projects.
The deepest undersea electricity cables currently reach depths of 2.5 kilometers
