EAC to spend €1.6 billion on infrastructure

The Electricity Authority of Cyprus (EAC) on Tuesday presented its ten-year development programme for the 2021-2030 period, envisaging some €1.6 billion in infrastructure expenditures.

Speaking in parliament, EAC Transmission Manager Costas Gavrielides said 70 projects are being planned with an estimated cost of €220 million. This includes overhead and underground power lines.

Regarding distribution, the state-run power corporation is making plans for the inclusion of more than 200 new producers of renewables by December 2022.

The entity’s distribution department also plans to install and operate 400,000 smart metres by 2025, and another 400,000 from 2026 to 2033.

For his part, Distribution System Operator Manager Anastasis Gregoriou said the EAC prepared and revised its ten-year development programme based on a number of parameters.

One of the most significant parameters is the mooted switch to natural gas for power generation at the country’s largest electricity station in Vasilikos. Another is the installation and operation of a subsea electricity cable linking Israel to Cyprus and Greece.

In remarks of his own, chair of the House energy committee Kyriacos Hadjiyiannis said billions would need to be spent on upgrading the EAC’s infrastructure and the transition to ‘green energy’.

“This will be done without risk to the supply of electricity or gaps in electricity generation, as we meet our short, medium and long-term goals. Goals that are now pre-set by the European Union.”

He also cautioned against the coming growth spurt in renewables being gamed for the benefit of select investors with government connections.

“Investments in photovoltaic systems cannot be the privilege of the few, or concentrated in certain areas on the pretext that the network cannot cope,” he said.