Cyprus’ decision on whether to participate in the EuroAsia Interconnector will be made immediately once the study for the project is submitted in mid-November, Energy Minister George Papanastasiou said on Friday.
Speaking to the Cyprus News Agency, he specified the study would be undertaken by the company which won the tender.
“Our final investment decision will be taken, and it will be immediate, maybe within the same month,” he noted.
The EuroAsia Interconnector involves the electrical interconnection of the national power grids of Israel, Cyprus and Greece, via submarine cable, direct current, and with onshore HVDC conversion stations at each connection point, with a total capacity of 2,000 MW.
The project, which is a European Project of Common Interest and electrically bridges Asia and Europe, has a total length of 1,208 km and creates a reliable alternative route for the transmission of electricity to and from Europe.