Minister receives EuroAsia Interconnection draft study, decision in December

08:55 - 24 November 2023

Economy Reporter

The Ministry of Energy, Commerce, and Industry has received the preliminary draft of the study conducted by a specialised firm regarding the EuroAsia Interconnector electricity project.

Energy Minister George Papanastasiou confirmed to the Cyprus News Agency (CNA) that the final version of the study is expected to be submitted next week.

Asked about the status of the EuroAsia Interconnector study, Minister Papanastasiou explained, that the preparation for the preliminary study (draft) has been completed, which he had not yet reviewed. He added that he requested its completion for an official presentation.

As he said, due to initial delays related to the necessity of passing through a public tender process for a legally compliant study, the final study would be available by the end of November. He added, that after receiving the final study, it would be examined in order to assess the overall project, and the political decision regarding the participation of the Republic of Cyprus in the EuroAsia Interconnector could be made by December.

The study will focus on evaluating EuroAsia Interconnector Ltd in four key areas: the economic sustainability of the project, a comparison with alternative solutions such as storing electrical energy in the Cyprus network, its geostrategic value, and due diligence for the project.

The EuroAsia Interconnector aims to connect the electricity grids of Cyprus, Israel, and Greece (via Crete), with a capacity of 2,000MW. The upcoming study results will play a crucial role in determining the future involvement of Cyprus in this ambitious energy project.

(Source: CNA)

Minister receives EuroAsia Interconnection draft study, decision in December

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