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Tuesday, September 17, 2024
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Economy

Cyprus is looking for a mechanism for GSI financial support through the EU

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Μηχανισμγι αοκομικor ενση GSI αναζητε μσεηκπροσ /></p> <p><strong>In the search for a mechanism, through the EU, so as not to burden the consumer and to financially strengthen the project of the Cyprus-Greece electrical interconnection (Great Sea Interconnector – GSI), in the event that the GSI Cyprus, Greece and the European Commission are in need of financial support, according to valid information from the CYPE.</strong></p> <p>More specifically, the Cypriot Government, according to the information, is in dialogue with Greece and the EU in its attempt to find a way that is legal, based on the way the EU operates for cases where there is cooperation of a private project implementation body (PIP). and two member states of the Union (Cyprus, Greece) that want to help their consumers in matters of electricity costs.</p> <p>The goal of the dialogue is to find a mechanism, and in particular a legal methodology to make the project clearly sustainable during its construction period, so that the consumer is not burdened and at the same time the project is strengthened.</p> <p>On the other hand , the Cypriot regulatory authority, CERA, should indicate in a short period of time if there is a financial gap and how much it is in relation to the viability of the GSI during its construction, since it is proven that the project during its operation is sustainable , the same information states.</p> <p>However, according to the information of the KYPE, the project is slightly sustainable during its construction and for this reason the Republic of Cyprus is looking through the EU for legal ways to be able to not burden the consumer and further strengthen the project financially.</p> <p>According to international investment practice, when a project is judged to be slightly unsustainable during its construction, then it does not attract investors because investors look to see – even in regulated projects and with certain profits when they operate – something to make the project viable, while it is not yet operational.</p> <p><noindex></p> <div class=Source: 24h.com.cy

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