Positive development for the electrical interconnection between Greece and Cyprus
ΣΧΕΤΙΚΑ ΑΡΘΡΑ
The Independent Power Transmission Operator (IPTO) characterises a positive development for the electrical interconnection of Greece – Cyprus (Great Sea Interconnector – GSI) the position taken in the previous days by the Plenary of the Regulatory Authority for Waste Energy and Water on the methodology of entering the interconnection, pointing out that an important milestone for the smooth implementation of the project is achieved.
The final decision is expected upon completion of the consultation before the end of May and is – as the Operator stated – the first of the steps required in order to complete the regulatory framework. “Without a comprehensive regulatory framework, it will not be possible to secure project financing from commercial banks and international organizations, nor to mature discussions with interested investors for equity participation in the project. For the project to be sustainable, the remaining regulatory decisions pending by the regulatory authorities of both Greece and Cyprus need to be taken immediately. Any additional delay will burden the electricity consumers of both countries,” it noted.
It is recalled that the IPTO assumed the GSI Implementation Agency in October 2023, with the agreement of both the European Commission and the governments of Greece and Cyprus, and immediately requested the settlement of the pending regulatory issues in order to proceed with the implementation of the project.
source ANA-MPA
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