US-based subsea and deepwater engineering and construction leader McDermott has signed a memorandum of understanding with Eunice Energy Group to work on the 2 GW electrical link between Greece and Egypt, known as the Greece-Africa Power (GAP) interconnector project.
Eunice Energy Group is a transnational consortium between Greece and Egypt for the GAP project, which is led by former California State Senator Andreas Borgeas with the aim to contribute to regional energy security and stability by facilitating intercontinental clean energy transfer.
As part of the consortium, McDermott will be providing 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 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’s CEO added: “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.”
The proposed project refers to the construction of a submarine DC transmission link interconnecting Egypt’s North Mediterranean coast and Greece at 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 at its Northern coast located South of Crete, where the bulk of Egypt’s electrical load and HV transmission grid infrastructure is located.
