Greek IPTO in Cyprus for contacts over Great Sea Interconnector

08:17 - 09 April 2024

Economy Reporter

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)

Greek IPTO in Cyprus for contacts over Great Sea Interconnector

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