Greece’s IPTO calls for expediting 1-GW interconnector project

Greek transmission system operator IPTO is seeking government support to accelerate the implementation of the subsea network project set to create a major power link between Greece, Cyprus and Israel.

The Greek company said on Friday it has approached government officials from Cyprus and Israel, requesting an expedited execution of the electrical interconnection project. It has made the demand in its role of promoter and implementing entity of the scheme.

The Great Sea Interconnector project, previously known as EuroAsia, will create an energy bridge via a 1,208-km direct current (DC) undersea cable that will be able to accommodate 1,000 MW of capacity and potentially reach 2,000 MW. The 525-kV HVDC cable route will be the longest and deepest interconnector globally, running across the Mediterranean Sea floor at depths of over 3,000 metres. It will have two sections planned to be commissioned in 2028-2029.

During the talks, IPTO has urged the Cypriot government to implement its recently unveiled decision to invest EUR 100 million (USD 109.4m) in equity in the project given the need to conduct a cost-benefit analysis study for the Cyprus-Israel segment.

Meanwhile, plans have been confirmed that joint efforts will be made to seal the loan agreement with the European Investment Bank (EIB).

The government of Israel has reiterated its full support for the EUR-2.5-billion project, IPTO said.

(EUR 1.0 = USD 1.094)

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