The infrastructure project will interconnect the electricity grids of Cyprus, Greece and Israel with the biggest subsea electricity cable in the world, which will exceed in length some 1,200 km with a capacity of 1,000MW and rising to 2,000MW. It has already secured €658 mln from the EU’s ‘Connecting Europe Facility’ and a further grant of €100 mln from the Recovery and Resilience Fund, the biggest funding in the history of Cyprus.Įarlier in October, President Nicos Anastasiades and EU Energy Commissioner Kadri Simson symbolically connected two electricity lines at a ceremony in Nicosia, inaugurating this way the construction phase of the EuroAsia Interconnector. The construction is expected to be completed by the end of 2027 and its operation will begin in the first half of 2028. The EuroAsia Interconnector Israel-Cyprus electricity interconnector is a leading European project of common interest (PCI 3.10.1) that ends the energy isolation of Israel and Cyprus, significantly reduces the CO2 emissions, and serves the “Green Deal” of the European Commission. “Connecting the Cyprus and Israel electricity grids will end (our) energy isolation and strengthen our strategic partnership.” The project developer of the 1,000MW EuroAsia Interconnector said in an announcement that “an important coordination meeting took place in Nicosia between the Cypriot and the Israeli regulatory authorities and the chairmen of the regulatory authorities, regarding the EuroAsia Interconnector electricity interconnection that will link the national electricity grids of Israel and Cyprus with the European network.”Ī delegation of the Israeli and Cypriot Ministries of Energy, the Israeli and Cypriot Energy Regulatory Authorities, and the Israeli and Cypriot transmission system operators (TSOs), participated in the meeting, moving forward with the implementation of the EuroAsia Interconnector Cyprus-Israel electricity interconnector.Īfter the meeting, Israel’s Ambassador to Cyprus, Oren Anolik, said, “Israeli and Cypriot officials from the Energy Ministries, the Electricity regulators and the TSOs met in Nicosia to discuss advancing EuroAsia Interconnector. The European Union has recognised the cable as a "Project of Common Interest", categorising it as a project it is willing to partly finance.Government officials and market regulators from Cyprus and Israel are determined to see the subsea electricity link between their countries finished in time, if not earlier, that will end their energy isolation and reduce the risk of security of supply. The Greek operator and Eurasia have been working closely to make sure the two cables link to each other efficiently, an IPTO official said. Greek power grid operator IPTO has started construction of the Crete-mainland part, seen concluding by 2023. It will cover three sections of the Mediterranean: some 310 kilometres between Israel and Cyprus, about 900 kilometres between Cyprus and Crete, and about 310 additional kilometres between Crete and mainland Greece. With a length of about 1,500 km and a maximum depth of 2,700 metres, it will be the longest and deepest subsea electricity cable to have ever been constructed, it said.Ĭalling the project a '2,000 mega-watt highway', Pilides said the first stage is expected to be operational within 2025. The cable will have a capacity of 1,000-2,000 megawatts (MW) and is expected to be completed by 2024, according to Israel's energy ministry. The project, called the Euro-Asia interconnector, will provide a back-up power source in times of emergency, said Israeli Energy Minister Yuval Steinitz, who was in Nicosia to sign a memorandum of understanding with his counterparts.Ĭypriot Energy Minister Natasa Pilides said it marked "a decisive step towards ending the island's energy isolation, and consequently, our dependence on heavy fuels." JERUSALEM- Cyprus, Greece and Israel on Monday signed an initial agreement to build the world's longest and deepest underwater power cable that will traverse the Mediterranean seabed at a cost of about $900 million and link their electricity grids.
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