Economy category powered by

Greek IPTO in Cyprus for contacts over Great Sea Interconnector

The management of the Greek Independent Power Transmission Operator (IPTO) will visit Cyprus on 9 April for contacts with Cypriot and Israeli authorities over the electricity interconnection between Cyprus – Greece and Israel, called the 'Great Sea Interconnector.'

Sources told CNA that on the morning of 9 April, the delegation of IPTO, which promotes the €1.9 billion project, will begin meetings with representatives of the Israeli Ministry of Energy and the country’s Electricity Regulating Authority, discussing the progress concerning the maturity of the part linking Cyprus and Israel, the decisions to be taken as well developments in the two countries’ electricity markets.

The IPTO delegation will then meet with representatives of the Cypriot Ministry of Energy, the Cyprus Electricity Regulating Authority (CERA) and Cyprus Transmission System Operator (TSOC) focusing on the discussions between Cyprus and Israel with regard to the connection of Cyprus and Israel.

The project is considered to be the longest underwater electricity interconnection in the world and has received a €657-million grant under the EU Connecting Europe Facility.

Although Cyprus has taken a decision in principle to provide a €100-million equity investment, Cyprus Minister of Energy George Papanastasiou has requested from IPTO an updated cost and benefit analysis before the government would take its final decision to invest in the project.

(Source: CNA)

Read More

Wizz Air comments on flight disruptions in the Middle East
New simplification proposal will speed up defence investments in the EU
Alexandros Josephides: Cypriot shipowners are concerned about the Strait of Hormuz
Kombos supports de-escalation and diplomatic action on Israel-Iran conflict at FAC
Seafood and oil prices climb sharply in May, fresh vegetable prices drop
Tax Commissioner to pursue criminal charges over €25 million debt of Abramovich's company
Finance Minister to discuss Cyprus' Presidency priorities and bilateral cooperation in Athens
National Hydrogen Strategy submitted to Cabinet for approval, Energy Minister says
Brown Hotels makes Cyprus debut with Paphos Hills (pics)
Marina Hadjimanolis: A Strait of Hormuz closure would undoubtedly have ripple and immediate effects