There will be delays in completion of Cyprus-Crete electricity interconnection, Papanastasiou says

07:57 - 04 November 2024

Economy Reporter

Minister of Energy, Commerce and Industry George Papanastasiou has said that there will be delays as regards the project that will connect Cyprus and Crete with electricity sea cables, adding that the end of 2029 seems realistic for its completion.

He also said that a delegation of the French company Nexans has asked to have contacts with him and with the Cyprus Energy Regulatory Authority when they visit Cyprus over the coming days and that they will inform them about the progress of the project.

In recent statements to journalists in Paphos, the Energy Minister noted that this is an ambitious project but there are going to be some delays.

The end of 2029 sounds realistic, said the Minister of Energy and estimated that there will be some obstacles that will delay the project.

I would like to believe, he said, that the companies that have undertaken the implementation of the project are companies that will be able to address the challenges that exist in our region for the electricity interconnection of Cyprus and Crete.

He added that the submarine cable contract of the French company Nexans, which is building the cable on behalf of the project's implementing body, the Independent Power Transmission Operator S.A. (IPTO), is worth €1.4 billion, adding that it is perhaps the most important part of the entire Great Sea Interconnector project.

Papanastasiou stated that the company requested to have contacts with him and with the Cyprus Energy Regulatory Authority when they visit Cyprus next week and inform them about the course of the project, its progress, the next steps and whether the project will be concluded within the time frames, in 2029.

(Source: CNA)

There will be delays in completion of Cyprus-Crete electricity interconnection, Papanastasiou says

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