![]() ![]() The so-called EuroAsia interconnector is planned to gave a capacity of up to 2 GW once commissioned in 2025.Ĭhoose your newsletter by Renewables Now. "For Cyprus, the electricity connection with Egypt has the potential to be a cornerstone of our efforts to transition to a green economy," said Cyprus’ energy minister Natasa Pileidou.Įarlier this year, Israel, Cyprus and Greece agreed to develop a subsea cable project to connect their power grids. The agreement aims to speed up the approval procedures and feasibility studies. Calling it a “bold strategic initiative”, Skrekas pointed out that the project will enhance his country's geopolitical role and strengthen its position as a hub for green energy transmission in Southeast Europe.Īs part of the project, Cyprus on Saturday sealed a MoU to connect its power grid with the one of Egypt, thus creating a framework of cooperation that facilitates the scheme's design, licensing, development and implementation. The country’s minister of environment and energy Kostas Skrekas said in a Twitter post that the power line is seen to contribute significantly to the region’s energy security and secure the flow of green energy between Greece and Egypt. In January the EU earmarked 657 million euros for the construction of the 2,000-megawatt EuroAsia Interconnector underwater electricity cable to link the power grids of Israel, Cyprus and Greece, utilizing funds from the Connecting Europe Facility. Greece announced its pact with Egypt on Thursday. The involved countries are due to sign a tripartite MoU this week. The interconnector is planned to transmit power produced by renewables in North Africa to Europe. The cable, which will be laid at a maximum depth of 2,700 meters (nearly 9,000 feet), will have a capacity of 1,000 to 2,000 megawatts.Īccording to the ministry, the project is expected to cost a bit more than $9 billion, part of which is to be provided by the European Union, which has recognized the undertaking as a Project of Common Interest.The governments of Greece and Cyprus have signed separate Memoranda of Understanding (MoU) with Egyptian authorities to link their power systems to Egypt’s via a subsea link. Once completed, the undersea power cable will be the longest and deepest in the world, according to the ministry. “The Euro–Asia Interconnector underwater power cable will allow us to receive electricity backing from the power grids of the European continent in times of emergency, and more importantly will also support our ability to significantly increase reliance on solar power generation, and help us meet the government’s 2030 solar energy targets,” he said.Ĭypriot Energy Minister Natasa Pilides said that the MoU marked “a decisive step towards ending the island’s energy isolation and, consequently, our dependence on heavy fuels.” ![]() ![]() Steinitz called the MoU “great news for the citizens of Israel,” according to a ministry statement. The project, called the “Euro–Asia Interconnector,” will help Israel build on more options for renewable energy, contribute to energy security and reduce energy prices, said Israeli Energy Minister Yuval Steinitz at the signing ceremony in Nicosia. Wednesday, 10 March 2021 | Israel, Cyprus and Greece signed a Memorandum of Understanding (MoU) on Monday regarding a project to link their power grids via the construction of the world’s longest and deepest undersea power cable. The European Union has earmarked 657 million euros (736 million) for the construction of a 2,000-megawatt undersea electricity cable that will link the power grids of Israel, Cyprus and Greece, Cypriot Energy Minister Natasa Pilides said Thursday. Israeli Energy Minister Yuval Steinitz and Cypriot Energy Minister Natasa Pilides ![]()
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