The management of the Greek Independent Power Transmission Operator (IPTO) will visit Cyprus on Tuesday for contacts with Cypriot and Israeli authorities over the electricity interconnection between Cyprus – Greece and Israel, called ‘Great Sea Interconnector.’
Sources told CNA that on Tuesday morning, the delegation of IPTO, which promotes the emblematic project totalling pound 1.9 billion, 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 a
s the longest under water electricity interconnection in the world and has received a pound 657-million grant under the EU Connecting Europe Facility.
Although Cyprus has taken a decision in principle to provide a pound 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: Cyprus News Agency