Israel greece to link power grids12/11/2023 ![]() ![]() “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 cable will have a capacity of 1,000 megawatts expandable to 2,000 MW.Ĭonstruction is scheduled to start this year and be completed in 2025, with an operating horizon in the first half of 2026.Israeli Energy Minister Yuval Steinitz and Cypriot Energy Minister Natasa Pilides “The EuroAsia Interconnector is perhaps Cyprus’ most important energy infrastructure project which ensures the transition to a green economy,” he told a news conference. ![]() The commission said the “898 kilometres of undersea cables and maximum sea depth of 3,000 metres will set new world records for a project of this kind”.Ĭypriot Energy Minister Natasa Pilides said the EU grant would allow construction to begin for a project expected to cost 1.57 billion euros. “Recent months have reminded us again how crucial a well-integrated EU energy market is for ensuring affordable energy and security of supply,” she said in a statement on Wednesday. The largest funds go to the EuroAsia Interconnector project to support the first electricity link between Cyprus and the European grid.ĮU energy commissioner Kadri Simson also said the project would bring “an end to the energy isolation of Cyprus and link it to the rest of Europe”. ![]() The EU’s member states agreed to invest 1.037 billion euros in five cross-border infrastructure projects under the CEF for trans-European energy networks. “It ends Cyprus’ energy isolation, secures the exploitation of natural wealth, offers security in supply, facilitates the attraction of foreign investments, reinforces the efforts for competitive electricity prices”. “With the EuroAsia electricity connection, Cyprus is geopolitically upgraded… it is an important milestone in the three countries’ strategic choices and upgrades the region’s energy goals,” the presidency said. The funding was approved under the bloc’s Connecting Europe Facility (CEF). The EuroAsia Interconnector will connect the national electricity grids of Cyprus, Greece and Israel through a 1,208-kilometre (750-mile) long subsea high-voltage, direct current (HVDC) cable. It said the project was also the cornerstone of its transition to a green economy. In a statement, the Cyprus presidency said the project is an important milestone that puts an end to the eastern Mediterranean island’s “energy isolation”. Cyprus welcomed Thursday (27 January) a “landmark” European Union decision to approve a 657-million-euro ($733 million) grant for the construction of a subsea electricity cable integrating it with Greece and Israel. ![]()
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