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- Ελληνικά
Focus on the next steps for the acceleration of the Greece - Cyprus - Israel electricity interconnection
The coordination of the Ministries of Energy of Cyprus and Greece and the other stakeholders of the two countries (Regulatory Authorities and Transmission System Operators), as well as the next steps required to accelerate the implementation of the Greece-Cyprus-Israel electricity interconnection were the focus of the meeting of the Minister of Energy, Trade and Industry, Mr. George Papanastasiou and the Deputy Minister of Environment and Energy Ms. Alexandra Sdoukou on Friday 10 November 2023.
The meeting, which took place in the framework of the Cyprus-Greece Intergovernmental Meeting under the Prime Minister of Greece Mr. Kyriakos Mitsotakis and the President of the Republic of Cyprus Mr. Nicos Christodoulides, was attended by Mr. Manos Manousakis, CEO of the Independent Electricity Transmission System Operator (ADMIE), which recently took over the role of implementing body of the Greece (Crete)-Cyprus-Israel electricity interconnection.
Mr. Papanastasiou and Ms. Sdoukou discussed, among other things, the actions to be taken to complete the regulatory framework in order for the project to proceed smoothly and outlined the steps required for the transfer of the licenses to the new project promoter. They were also informed by ADMIE of its intention to set up a special purpose vehicle (SPV) subsidiary to undertake the Greece-Cyprus-Israel interconnection in order to facilitate the possible entry of the Republic of Cyprus and other investors in the project. In this context, Mr Manousakis informed the two Ministers about the progress of the relevant discussions and the interest expressed by other stakeholders.
Finally, technical issues were also discussed regarding the grant of 657 million euros from the Connecting Europe Facility (CEF) for the Crete-Cyprus interconnection. EUR 65655 million for the good progress of discussions with the competent body of the European Union CINEA (Climate, Infrastructure and Environment Executive Agency) to accelerate the disbursement of advance payments for the project within the current year.
It is recalled that on Friday, the Minister of Environment and Energy of Greece, Mr. Theo Skylakakis and Mr. Papanastasiou, during their meeting, analysed all aspects of energy cooperation between Cyprus and Greece and discussed the conclusion of a Memorandum of Understanding, which will concern, among other things, cooperation for the promotion of the electrical interconnection project of the two countries.
(GA/NG/ASP)
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