EuroAsia Interconnector

Plans for the Greece-Cyprus power link, the ambitious GSI cable project, face mounting delays as undersea mapping near Crete and Kasos yields minimal progress.

While the vessel conducting surveys operates within Greek waters to avoid legal disputes, financing pressures from stakeholders, particularly French company Nexans, are intensifying.

Greece's Regulatory Authority for Energy (RAAEY) has made a significant decision regarding the methodology for calculating the regulated revenue of the Greece-Cyprus electricity interconnection project, marking a crucial step toward finalizing the regulatory framework for the Great Sea Interconnector (GSI) project.

The US International Development Finance Corporation (DFC) has expressed an interest in participating in the Great Sea Interconnector project linking the electrical grids of Greece, Cyprus and Israel via undersea cables, Greece's Independent Power Transmission Operator (IPTO) has said.

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

Τhe Cypriot government will request that Greece's Independent Power Transmission Operator (ADMIE) carry out a cost-benefit study as regards the Cyprus-Greece electricity interconnection (Great Sea Interconnector), Cypriot Energy Minister Giorgos Papanastasiou said on Tuesday.

Investments of 5.5 billion euros are included in the new 10-Year Development Plan of the Independent Power Transmission Operator (ADMIE) for the period 2025-2034 which is to be put to public consultation in the next few days before being submitted for approval to the Regulatory Authority for Energy.

Cyprus is considering participating in the ambitious Great Sea Interconnector project, formerly known as EuroAsia, according to statements from government officials. The proposal, jointly submitted by the ministers of energy, commerce and industry, George Papanastasiou, and finance, Makis Keravnos, signals Cyprus' readiness to join forces with Israel and Greece in the massive project.

Greece is on the "front line of energy-related investments," Deputy Energy Minister Alexandra Sdoukou said at the Greek House Davos Forum in Switzerland on Monday.

The Bulgaria-Greece gas interconnector project marks a successful year of operation, transporting over 15.5 million MWh in 2023 without any disruption, reported IGB.

The construction of the cable section of the first leg of the Greece-Cyprus-Israel interconnection (the Crete-Cyprus interconnection) began with the order Nexans got from Greece's Independent Power Transmission Operator (IPTO), responsible for the project, to "reserve" the necessary slot for the production of cables and to start relevant procedures.