The spokesperson for the Egyptian presidency, Bassam Rady, announced that "President Abdel Fattah el-Sisi discussed with Dimitris Koubilozis, the president of the Greek electricity company Koubilozis, the transfer of electricity to Europe," according to the Russian news agency "RT."
Rady stated: "The meeting addressed a joint project for electricity production from renewable energy sources in Egypt and its transfer to Europe via Greece, through the establishment of a subsea cable for electrical interconnection between the two countries."
Egypt is striving to reduce electricity consumption to save more hard currency by implementing a series of measures to decrease the amounts of natural gas used in electricity generation, in order to utilize these quantities for export to secure foreign currency.
