The iconic GREGY project at the Hellenic-American Chamber of Commerce Conference at the TIF

The Conference was held on Friday, September 4, 2026 by the Hellenic-American Chamber of Commerce, in collaboration with the Embassy of the United States in Greece, the Atlantic Council and the Global Energy Institute of the American Chamber of Commerce, in the context of the 90th Thessaloniki International Fair.

Mr. Karydas underlined the importance of GREGY in shielding the Greek economy, especially in light of the international geopolitical turmoil in the wider region, strengthening the security of our country's energy supply and energy diversification.

The protection of a country's energy market is a strength for the country and, as Mr. Karydas stated, energy security means National Security.

The Gregy Project

The GREGY project, which will be 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 vertical South-North energy corridors, constituting the cornerstone of the most important international interconnection for our country, highlighting Greece as an important energy hub in the region.

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

With the implementation of GREGY, which is being developed by the company ELICA INTERCONNECTOR S.M.S.A. of the Copelouzos Group, Greek Industries will reduce their energy costs, which is currently the most important survival parameter, especially for energy-intensive industries, and will acquire a competitive export orientation. At the same time, thousands of new direct and indirect jobs will be created and the Greek Economy will be significantly strengthened in this way.

GREGY is a project of high strategic importance, as it has been included in the PCI/PMI list of the European Union and in the Global Gateway framework, which includes infrastructure projects of critical importance for Europe. At the same time, the project has been included in the PACT Action Plan for the Mediterranean of the European Union. The international positive footprint 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 bill of the US Congressional Foreign Affairs Committee, to promote cooperation and stability in the Eastern Mediterranean.

The development of the project is progressing at a rapid pace with the tender procedures for the award of the Environmental Study, the Subsea Research Study and the onshore civil engineering works being underway, the cost of which is co-financed by the EU Connecting Europe Facility.

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