The approval of €657 million from European funds for the EuroAsia Interconnector electricity interconnection project is welcomed by Energy Minister Natasha Pilidou.
The project will connect the electricity grids of Israel, Cyprus and Greece. The funds will come from the Connecting Europe Facility.
"Excellent news" is how Ms. Pilidou described in a tweet the approval of the new grant for Cyprus.
She also refers to "multiple benefits of the electricity interconnection for Cyprus".
As she says the electricity interconnection is expected to remove energy isolation, ensures energy security, contributes to the development of competition in the electricity market and facilitates the development of renewable energy projects.
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