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EU Funding – CEF of €657million for the EuroAsia Interconnector


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Statement by the Project Promoter of the EuroAsia Interconnector

Electricity Interconnection Israel Cyprus Greece-Europe

On this occasion of the CEF grant approval by the European Commission, the Project Promoter would like to warmly thank:

the President of the Republic of Cyprus, Mr Nicos Anastasiades, for the continued support and cooperation with him as well as with members of his Government,

the Prime Ministers of Greece and Israel, Mr Kyriakos Mitsotakis and Mr Naftali Bennett, for their cooperation and support, as well as the members of their governments,

special thanks are due to the Energy Minister Ms Natasa Pilides, who embraced the project from the first moment and placed it among her policy priorities, the Director General and the officials of the Energy Ministry, as well as,

the Energy Commissioner, Ms Kadri Simson and the Directorate General Energy of the European Commission,

the President and members of the Cyprus Energy Regulatory Authority, the Cyprus Transmission System Operator and their officials,

the National Competent Authority for PCIs and the other national licensing authorities,

the Minister of Finance, the Director General EPCD and all the competent state officials, for their contribution in the implementation of the project.

Thanks are due to the members of the House of Representatives and all the Cypriot Members of the European Parliament.

Also, to the Energy Minister of Greece, Mr Costas Skrekas, the Energy Ministry and the General Secretariat, the Energy Regulatory Authority, the Transmission System Operator of Greece, the General Directorate of Strategic Investments and all the competent officials for their cooperation and support.

Their cooperation and continuous support in the implementation of the electricity interconnection EuroAsia Interconnector has been decisive and essential since, as a European Project of Common Interest, ends the energy isolation and connects Cyprus to the single European energy market.

The approval of the Application for Funding by the European financing mechanism “Connecting Europe Facility” is for the Project Promoter the most important milestone which ensures the commencement of construction of the electricity interconnection of Cyprus and Greece (Crete) and consequently the subsequent completion of the EuroAsia Interconnector electricity corridor Israel-Cyprus-Greece-Europe.

The decision of the European Commission constitutes an honor and recognition of our efforts, which began in 2011, with the aim of lifting the energy isolation of Cyprus , the last member state of the European Union that is still completely energy isolated, and ensuree its energy security.

The  EuroAsia Interconnector is, perhaps, the most important energy infrastructure project for the whole of Cyprus, which ensures the achievement of the energy goals set within the context of the transition to a green economy, contributes to the increase of RES penetration and reduction of carbon dioxide (CO2) emissions and offers significant social, economic and environmental benefits to Cypriot and European consumers.

The EuroAsia Interconnector is a leading project of common interest (PCI) of the European Union. It consists of the electrical interconnection of the power systems of Cyprus-Greece (Crete) and Cyprus-Israel with direct current (DC) submarine cables and with HVDC converter stations at each connection point and will have a total capacity at the present stage of 1000 MW and capability of increasing to 2000 MW. The EuroAsia Interconnector is the energy bridge between Asia and Europe, with a total length of 1208 km and creates a reliable alternative corridor for the bidirectional transmission of electricity between the Eastern Mediterranean and Europe.

The Project Promoter continues to work with the same dedication for the commencement of the construction works in 2022 and the completion of the electricity interconnection EuroAsia Interconnector at the end of 2025, and commissioning in the first half of 2026. In addition, it continues the efforts to implement the Cyprus-Israel interconnection PCI 3.10.1 in cooperation with the competent Energy Ministries of the respective countries.

European Commission Announcement

Announcement English (pdf)

Announcement Greek (pdf)

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