Greece's IPTO to oversee implementation of EuroAsia Interconnector

Greece’s Independent Power Transmission Operator (IPTO/ADMIE) has assumed the role of project promoter of the EuroAsia Interconnector project that will create a subsea route linking Greece, Cyprus and Israel.

The designation will make IPTO the implementing entity of the interconnection project, it said on Friday.

The huge interconnector 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 will be the longest and deepest interconnector globally, running across the Mediterranean Sea floor at depths of over 3,000 metres. It will consist of a 310-km section between Israel and Cyprus and an 898-km link between Cyprus and Crete, Greece. Both of them will be commissioned in 2028-2029.

IPTO has been assisting the project as a technical consultant since 2021. Its new role will ensure the scheme’s technical and financial adequacy, the company said, adding that it will bet on its experience in the ongoing Attica-Crete interconnection project due to be finalised next year.

The cost of the initial 1,000-MW stage is estimated at EUR 2.5 billion (USD 2.65bn), of which EUR 658 million will be European Union grants.

All needed permits to begin EuroAsia Interconnector’s construction are already in place. This summer, French cable manufacturer Nexans SA was picked to supply and install cables for the Greece-Cyprus section, with Siemens being a preferred contractor for the converter stations.

(EUR 1.0 = USD 1.059)

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