The Egypt and Cyprus governments have signed a framework agreement for the construction and commissioning of the high voltage direct current (HVDC) EuroAfrica Interconnector, which is being developed by EuroAfrica Interconnector Limited, a unit of Cyprus-based Quantum Energy. The project will connect the electricity grids of Egypt, Cyprus and Greece through a subsea direct current cable and HVDC onshore converter stations. The interconnection will have a transmission capacity of 1,000 MW in the first stage, which will be increased to 2,000 MW later. Stage I is estimated to cost Euro 3.5 billion. The interconnector will be 1,707 km long. It will also include four converter stations with multi-terminal operations, one each in Egypt, Cyprus, Crete and Attica.