Greece’s Independent Power Transmission Operator (Admie) has submitted an official proposal to participate in the share capital to be carried out by the implementing body for the EuroAsia Interconnector.

CEO of Admie Manos Manousakis told a Greek news outlet that “the proposal of Admie to become a shareholder of the EuroAsia Interconnector company was already in the making.”

Under their proposal, Admie would acquire 25 per cent of the share capital and control the implementation of the project.

The new interconnection for Crete-Cyprus-Israel will also start from the village of Damasta, Crete.

The EuroAsia Interconnector is a proposed interconnector between the Greek, Cypriot and Israeli power grids via the world’s longest submarine power cable – 310 kilometres from Israel to Cyprus, and 898 kilometres from Cyprus to Greece, for a total of 1,208 kilometres.

It’s envisioned as an energy highway bridging Asia and Europe. On January 26 of this year the European Commission approved €657 million under the Connecting Europe Facility (CEF) for the project.