EuroAsia at a glance
EuroAsia Interconnector Limited is the official EU project developer of the 2,000MW electricity interconnector between Israel, Cyprus, Greece and Europe. The EuroAsia Interconnector is a leading European Project of Common Interest (PCI) labelled as an EU “electricity highway” connecting the national electricity grids of Israel, Cyprus and Greece through a 1,208 km subsea HVDC cable.
The European Commission, with the support of the Cyprus Government and in agreement with the Greek Government, has appointed EuroAsia Interconnector Limited as the owner Project Promoter of EuroAsia Interconnector.
The EuroAsia Interconnector comprises the electricity interconnection between the grids of Israel, Cyprus, Greece through a subsea DC cable and with HVDC onshore converter stations at each connection point, with a total capacity of 2000MW. The project is an energy highway bridging Asia and Europe, with a total length of 1,208 km. It creates a reliable alternative route for the transfer of electric energy to and from Europe.
The EuroAsia Interconnector enjoys a high rating by the European Union, falls within the EU energy policy and contributes to the following energy targets:
- Ends the Energy Isolation of Cyprus as an EU member state. Cyprus is the last member of the European Union which remains fully isolated without any electricity or gas interconnections. Ending the energy isolation is an important EU objective.
- EuroAsia Interconnector creates an electricity highway from Israel-Cyprus, Greece (Europe) through which the European Union can securely be supplied with electricity produced by the gas reserves of Cyprus and Israel, as well as from the available Renewable Energy Sources (RES), contributing at the same time to the completion of the European Internal Market.
- The EuroAsia Interconnector ensures the security of energy supply of the three involved countries and of the EU system altogether, through the integration of the isolated small systems of Cyprus and Crete with the Israeli and European networks and the uninterrupted – multidirectional flow of energy.
- Promotes the substantial development of the Renewable Energy Sources and contributes to the reduction of CO2 emissions.
- Offers significant economic and geopolitical benefits to the involved countries.
- Contributes to the target of the European Union for 10% of electricity interconnection between Member States.
- Provides significant socio-economic benefits in the range of 10 billion euros.