Page 16 - AfrElec Week 12 2021

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The three companies were already part the shaping of its own sustainability, and this energy security.
of the Foundation’s network as partners of is reflected in our commitment to initiatives According to Cyprus Energy Minister
renewAfrica, an initiative aimed at creating a such as this one.” Natasa Pilides, the MoU will be signed “very
package of European-led risk mitigation tools Schneider Electric Middle East and Africa soon”, which government sources put at the
to encourage the international investments president Caspar Herzberg said: “The ultimate end of March or early April.
involvement, necessary for the development of aim of RES4Africa is to help countries The MoU, to be signed by Pilides, Egypt’s
the African energy market. throughout Africa gain access to affordable, Electricity Minister Mohamed Shaker
RES4Africa Foundation president and reliable, sustainable and modern energy. and Greece’s Energy and Environment
Enel Green Power chief executive Salvatore “We have an opportunity to help Africa Minister Costas Skrekas, will engage all
Bernabei said: “It is an honour for us at leapfrog the rest of the world when it comes to three governments as stakeholders in the
RES4Africa to welcome EDP Renewables, energy production and distribution. EuroAfrica Interconnector.
Schneider Electric and Vestas as new “With access to energy comes more jobs, “In effect, this means greater involvement
members of the Foundation. long-term economic development, and better by the three governments to ensure a quicker
“The fact that three of the world leading living conditions for all. completion of the project by fast-tracking
companies in the renewable energy sector “By providing communities with clean, permits and licenses in all three countries,” an
decided to expand their support to all the reliable energy, we’re also providing a basis energy observer said.
activities of the Foundation, not only means for countries to meet their commitments on Starting from Damietta in Egypt, the first
that we are doing a great job, but it also the Sustainable Development Goals. And we phase of the EuroAfrica Interconnector will
confirms our vision: the European private at Schneider Electric are passionate about cost €2.5 bln and transmit 1,000MW, doubling
sector is increasingly willing and ready to ensuring this happens.” at a later stage to 2,000MW.
support Africa on its path towards a just and It will be 1,396km long, with the Damietta-
sustainable energy transition.” Kofinou section at 498km and the Kofinou-
EDPR chief operating officer Europe Korakia section in Crete at 898km.
and Brasil Duarte Bello said: “From EDP GRID The EuroAfrica Interconnector places
Renewables we are pleased to join as a Egypt at the forefront of energy production
member of the RES4Africa Foundation and Egypt, Cyprus, and and transmission in the region, paving the
contribute to boost the African economy. way for electricity to be exported as part of an
“As a company that is leading the energy Greece to sign 2,000MW ‘energy highway’ linking the Arab world to
transition, we are willing to support and Europe.
be part of the path towards the sustainable interconnector deal The Cyprus-Greece segment of the cable
development of the African continent, will also help end the energy isolation of
through the impulse of green energy. Egypt, Cyprus, and Greece are expected to Cyprus. This last non-interconnected EU
“For our company social responsibility is a sign a memorandum of understanding (MoU) member state continues to rely on expensive
cornerstone of our business model, with the for cooperation on the 2,000MW electricity fuel imports to drive its power stations.
aim of achieving a more efficient society in cable linking their power grids to ensure Political support for the project was
reaffirmed in October 2020 with the trilateral
declaration signed by President Abdel Fattah
El Sisi, President Nicos Anastasiades and
Greek Prime Minister Kyriakos Mitsotakis.
In the declaration, the three leaders
expressed their “unwavering support” to
establish the EuroAfrica Interconnector that
promotes close cooperation between the
three countries and ensures energy security
and security of supply for the stakeholder
countries and Europe.
A similar MoU was signed in early March
for the EuroAsia Interconnector.

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