Greece and Saudi Arabia Push Forward on Green Energy Corridor to Europe

11:19 31/1/2025 - Πηγή: Dikaiologitika

Greece and Saudi Arabia are accelerating plans to create a green energy corridor that will transport renewable electricity from Riyadh to Europe via Greece.

The initiative, reaffirmed during a meeting on Thursday between Greek

Energy Minister Thodoros Skylakakis and his Saudi counterpart, is gaining traction as both nations seek to position themselves as key players in the global energy transition.

The discussion follows a recent visit by Greece’s Prime Minister to Saudi Arabia and builds on prior talks between Greece’s Independent Power Transmission Operator (IPTO) and Saudi Arabia’s National Grid. Last week, the two electricity transmission operators met to advance the technical and financial roadmap for the proposed interconnection, which is now moving closer to implementation.

At the heart of the project is the Saudi Greek Interconnection, a joint venture between IPTO and Saudi Arabia’s National Grid, established in February 2023 to conduct a feasibility study for the ambitious energy link. Initial studies, which began recently, are expected to conclude within the next nine months, offering a clearer picture of the project’s viability.

A key aspect of the feasibility study is the 2,000-kilometer route the transmission line will follow. As it stands, Saudi Arabia appears set to take a longer path via Egypt and Greece through the Suez Canal, bypassing Israel -consistent with the original framework agreed upon with Greece in 2022. However, should diplomatic conditions evolve, an alternative route through Jordan, Israel, and Greece, with Cyprus as a possible intermediary stop, remains on the table.

The Saudi-Greek interconnection is part of a larger European energy strategy, closely linked to the Green Aegean Interconnector, a separate project designed to connect Greece with Germany. Together, these initiatives aim to reduce Europe’s reliance on Russian natural gas by enabling the large-scale transmission of solar energy from the Middle East to the EU. The interconnection will allow surplus renewable electricity generated in Saudi Arabia and Greece to be delivered to Europe’s high-demand markets.

One of the project’s most attractive aspects is its cost-effectiveness. Saudi Arabia has already set global records for low solar energy prices, with recent Power Purchase Agreements (PPAs) signed at just $10.4 per megawatt-hour - an unprecedented rate in the global renewable energy market.

While the final technical details will be determined through the feasibility study, the project is expected to use high-voltage direct current (HVDC) technology to ensure efficient, high-capacity energy transmission. Once completed, the interconnection will help power Central Europe’s largest energy markets - especially Germany, allowing for a more diversified, secure, and sustainable energy supply.

With the feasibility study expected to conclude by September, both Greece and Saudi Arabia are edging closer to making the green energy corridor a reality - one that could reshape Europe’s energy landscape for decades to come.

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