McDermott and Eunice Energy Group announced the signing of a memorandum of understanding (MoU) for cooperation on the two-gigawatt (2 GW) electrical interconnection between Greece and Egypt, known as the Greece-Africa Power (GAP) Interconnector project.
Eunice Energy Group is leading the transnational consortium between Greece and Egypt for the GAP project, which aims to contribute to regional energy security and stability by facilitating intercontinental clean energy transfer. As part of the consortium, McDermott, a leader in engineering, procurement, construction and installation (EPCI) for subsea and deepwater, will be providing engineering and construction guidance for the project.
According to Eunice, the connection point in Egypt will be at its northern coast located south of Crete, where the bulk of Egypt’s electrical load and HV transmission grid infrastructure is located. The Greece – Africa Power Interconnector project will provide energy stability to the Eastern Mediterranean Sea area as intercontinental energy transfers will be facilitated and generation adequacy of the region will be increased.
“This is an MOU of strategic importance at a time when Europe is working to ensure energy security,” said Michael McKelvy, McDermott 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.”
George Kalavrouziotis, Eunice Energy Group CEO added: “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. The 2 GW 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.”