Greek electricity grid operator Independent Power Transmission Operator (IPTO or Admie) and Saudi Arabia’s National Grid Saudi Electricity Company have decided to kick off technical and economic studies for an electricity interconnector between the two countries.
The launch of the technical and economic studies for the Greece-Saudi Arabia electricity interconnection project was decided in Riyadh, Saudi Arabia, by the management of Saudi Greek Interconnection, a company jointly established by IPTO and National Grid SA earlier this year.
The heads of the two operators, Manos Manousakis and Waleed Al-Saadi, further discussed the next steps for the maturation of the interconnector.
On the occasion of IPTO’s management visit to the facilities of National Grid, the parties also examined areas of know-how exchange and a working meeting was held with the management of Integrated Dawiyat, the telecommunications subsidiary of Saudi Electricity Company, in order to explore possible synergies with Grid Telecom Greece.
Greece and Saudi Arabia announced their intention to establish the special purpose company in September 2023.
The plan came on the heels of the two partners signing a memorandum of understanding (MoU) in 2022 which sets a framework for cooperation that includes renewable energy, electrical interconnection, exporting electricity to Greece and Europe, clean hydrogen and its transfer to Europe, energy efficiency, the oil, gas, and petrochemical industry, and adopting the circular economy approach to carbon and technologies to reduce the effects of climate change.