Study for the Great Sea Interconnector project to be presented 'in the next few days'
12:08 - 16 January 2024
Representatives of the international firm that prepared the study for the Great Sea Interconnector project (former EuroAsia Interconnector) will be in Cyprus in the next few days to present it to the Presidency of the Republic, the Ministry of Energy, Commerce and Industry and the Ministry of Finance.
Minister of Energy, George Papanastasiou, told CNA that after the presentation of the study, "the Republic of Cyprus will immediately decide, whether or not to participate in the whole project".
"The time frame we have set to make our decision is until the end of January," he said, adding that after the decision is taken "we will give the appropriate message to the Independent Power Transmission Operator (ADMIE), which is the implementing body of the whole project."
As regards the study, Papanastasiou told CNA that it will include the economic viability of the project in terms of "the electricity market of Cyprus, as an isolated market", but also the firm's assessment, which will concern "a geopolitical assessment of the project which connects the Eastern Mediterranean region where Cyprus is located, with the region to Europe, through Crete".
"These are two of the key elements that the agency has evaluated and which it will present to us," he noted.
The study will also include the comparison of the project with alternatives, such as electricity storage in the Cyprus network and due diligence of the project.
The Great Sea Interconnector concerns the interconnection of the national electricity transmission networks of Cyprus, Israel and Greece (via Crete), with a capacity of 2,000 MW.