GREGY is advancing: The consortium behind the 3-GW Greece-Egypt Interconnector (GREGY) is putting together the final technical and financial surveys ahead of a financial investment decision, Greek outlet eKathimerini reported yesterday. John Karydas, the CEO of the renewables unit of Copelouzos — which together with Samaras Group is drawing up plans for the project — made the statements at a conference in Washington.

BACKGROUND- Work on GREGY has accelerated last year as the EU steps up its search for new energy supplies following an energy crunch on the back of the Russian invasion of Ukraine. Renewable energy player Elica — a 50/50 joint venture between Copelouzos and Samaras — is applying to the EU for funding, with the European Investment Bank and a number of Greek banks possibly contributing money to the EUR 3.5 bn project.