The Frederick University's H₂zero research team presented a comprehensive study on the electrical interconnection of the East-Europe-Europe Economic Corridor (IMEC). The study shows how the 5GW power corridor can help Europe reduce emissions and produce large amounts of green hydrogen using pure imported energy. The electric interconnection will connect large systems of solar and wind energy in India, the United Arab Emirates and Saudi Arabia, passing through three major countries, Israel, Cyprus and Greece, with the internal electricity market of Europe.
Simulation shows that this electrical interface can greatly improve the safety and quality of energy in Europe. It confirms that the project is feasible and financial interest and shows that proper investment can significantly change energy markets, creating new opportunities for cooperation between countries.
The IMEC corridor can provide 100% net energy at very competitive prices, producing 19.9 TWH energy per year, of which 13.4 TWH will be channeled directly to the European market at average $ 44 per MWh. In this way, the production of green hydrogen in Europe is also supported, reducing the dependence on fossil fuels.
With a total power of 10 GW in solar and wind farms in production countries, and very low energy losses (just 3.8 TWH per year), the network makes Israel, Cyprus and Greece critical crossing and interconnection points, improving the flexibility of the network and its resilience. The study takes into account energy production per hour throughout the year to ensure reliable electricity.
Economic analysis shows that the project is of great economic value of $ 31 billion in total. The required investments for the construction of the network, covering 3,730 kilometers, are estimated between $ 15 and $ 25 billion and include submarine cables, conversion stations and other infrastructure in seven countries. More than 13,000 jobs are expected to be created during construction and about 3,600 permanent jobs in participating states, while the project will generate annual revenue of about $ 1.2 billion from crossing and exports. The net and economic energy produced will reduce the need for importing fossil fuels and help achieve EU goals for renewable energy.
Based on the results, the study proposes to accelerate the development of electrical interconnections between Israel, Cyprus and Greece, in order to make energy hubs to Europe. It also stresses the need for coordinated investment and international cooperation to overcome technical and political challenges.
According to Professor Andreas Poulikas, head of the Frederick University H2ZERO research unit, "the IMEC corridor is not just a technical achievement. It is a big change that puts Cyprus in the center of the world's energy transition. Our models show that Cyprus's strategic position as EU energy hub creates new opportunities for cooperation and promotes Europe's energy independence. This corridor gives Europe a safe road to 100% net energy, with competitive prices and enhanced stability of the electricity grid. "
