LEG1 is a HVDC Interconnection Subsea power cable of 2,000 MW capacity amplifiable to 7,000 MW allowing for electricity exchange between Europe and the South-Eastern Mediterranean Countries.
LEG1 presents a new strategic opportunity in creating an electricity exchange between European, Middle-Eastern and African countries.
Through LEG1, the electricity network of emerging countries of the Middle-East will be linked to the European grid before 2020. This will allow export of surplus of electricity from the Middle East into Europe during the winter season and from Europe to the Middle East during the summer season.
More profoundly, Middle East countries will be positioned as the renewable energy powerhouse for Europe for the next hundred years.
It is an integrated project in line with the European Union’s energy and climate objectives which include supporting socio-economic developments in the South/East Mediterranean region and Central and Eastern Africa.
European Energy Security Strategy
Green Power 2020 was founded by Mr ANBAR to develop projects within the Energy sector including power generation and grid connections within the European Union, South Eastern Mediterranean and Arab countries.
Green Power 2020 has completed the initial studies to connect Greece to Libya (Tobruk) and Egypt (Salloum) by a 2,000 MW HVDC Submarine Power Cable (LEG 1). Underwater surveys have determined the shortest and most economic path through the Mediterranean Sea.
The European Network of Transmission System Operators for Electricity (ENTSO-E) has approved all studies on 23 June 2016 and the project was subsequently listed under the Ten-Year Network Development Plan (TYNDP 2016) as Project 284 LEG1.
This success has opened the way for investment financing and financial assistance as a future Project of Common Interest (PCI) through the Connecting Europe Facility (CEF).
Integrate LEG 1 to the South Eastern Mediterranean Countries Grid;
Participate in power generation with emphasis on renewables;
Extend the grid to East Africa connecting the Nile basin countries in the framework of the energy internet project;
The EU imports 53% of all the energy it consumes at a cost of more than €1 billion per day.
Specifically, the EU imports:
With its prosperity hinging on a stable and abundant supply of energy, the European Commission has set goals for 2020 / 2030 / 2050 as well as adopted the European Energy Security Strategy “EESS’’
The EESS Strategy aims to ensure:
Maintaining a stable and abundant supply of energy for European citizens.
Developing electrical grid infrastructure between EU member states and its south neighboring countries.
A focus was directed towards studying the solar production in North Africa along with the means of power exchange between the North and South of the Mediterranean. Two remarkable efforts in this field were achieved namely: DESERTEC in Germany and MEDGRID in France.
90% of its crude oil
66% of its natural gas
42% of its coal and other solid fuels
40% of its uranium and other nuclear fuels
The European Energy Security Strategy (EESS) approach to enhance the EU energy security is based on the following eight pillars:
GP2020 focuses on pillars 5, 6 and 7.
Green Power 2020 Investment Fund will own Green Power 2020 Holdings.
Green Power 2020 will be partially funded by the EU under the Infra Structure Projects budget.
Green Power 2020 will invite Strategic Partners to participate as shareholders in the Investment Fund.
CAPITAL FORMATION and COMPANY STRUCTURES
Information on the LEG 1 project is detailed in the references below:
Download ENTSO-E Regional Investment Plan 2015 (Project 284 - LEG 1, Page 41)
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