28 Sep, 23

Saudi Arabia Forms Joint Venture With Greece To Link Power Grids

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Saudi Arabia has signed a deal with Greece for the establishment of a jointly-owned company to link up the two countries’ power grids with the goal of supplying Europe with clean energy, Reuters reports. The new company, Saudi Greek Interconnection, joins Greece’s IPTO and Saudi Arabia’s National Grid, each with a 50% stake.  Greece’s energy mix is already 40% renewable, and the country is seeking to boost this further, while lowering costs. To that end, Greece is also seeking to build an undersea cable that will link…

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