The implementation of the Electric Interconnection is undertaken by the Independent Electricity Transmission Operator of Greece and the Greek State
The implementation of the Greece-Cyprus-Israel Electric Interconnection is undertaken by the Independent Electricity Transmission Operator of Greece (ADMIE).
According to the relevant announcement, EuroAsia Interconnector Limited and ADMIE have entered into an agreement for the appointment of the second as the implementing body and project promoter of the Electric Interconnection project between Greece, Cyprus and Israel.
“In this context, the two companies proceeded jointly to inform the European Commission and the governments and authorities involved in Greece, Cyprus and Israel”, reports ADMIE.
“The undertaking by the System Administrator of Greece in the role of project promoter in the flagship project of the electrical interconnection of Cyprus and Israel in the European electrical system, through Greece, ensures the technical and financial adequacy of the project and lays the foundations for its timely completion,” the announcement adds.
As ADMIE states, “it has financial strength, specialized human resources and possibilities to hire additional highly specialized personnel that will be required for the maturation of the project. Furthermore, it has many years of experience and strong know-how in the implementation of projects of high technical complexity, such as the Attica-Crete interconnection, HVDC technology, which is in a mature phase of construction with a completion horizon of 2024”.
“EuroAsia Interconnector Ltd and ADMIE will work closely together so that the smooth transition to the new Implementing Agency for the Electric Interconnection project of Greece, Cyprus and Israel is rapid as required by the project implementation schedule and expected by the governments and the European Commission” , the announcement adds.
“An energy-breathing project for the wider region, with years of systematic effort, has now reached the pivotal point of starting its construction. Its completion will mark the electrical interconnection of Cyprus – the last non-interconnected EU member state – with the European transmission system, ensuring the island's strong energy shield. And Israel will strengthen its security of supply, gaining the ability to increase, further and faster, the participation of Renewable Energy Sources (RES) in its energy balance”, concludes the announcement.
The Greek Minister of Environment and Energy, Thodoros Skylakakis, made statements about the agreement, noting that the project is entering the final stretch. “ADMIE, as the implementing body and project promoter, assumes the responsibility to bring to completion, on time, this emblematic project for energy security, which is distinguished by its high economic, environmental and geopolitical value. Its implementation will lead to a drastic reduction of CO2 emissions, while at the same time the national electricity grids of Cyprus and Israel will acquire a green, reliable two-way interconnection with Greece and the rest of Europe”, said Mr. Skylakakis.
For her part, the Deputy Minister of Environment and Energy, Alexandra Sdoukou, pointed out that “the assumption by ADMIE of the role of project promoter in the electricity interconnection Greece-Cyprus-Israel “unlocks” the implementation of a project of strategic importance, not only for the region of of the Eastern Mediterranean, but also for the entire EU”.
Manos Manousakis, President and CEO of ADMIE, thanked EuroAsia Interconnector for the trust and pledged that “we will work with all our strength to ensure the better conditions, so that the Greece-Cyprus-Israel interconnection becomes a reality as soon as possible and under the most favorable conditions”.
Nassos Ktoridis, CEO of EuroAsia Interconnector Ltd, expressed pride “that after 12 years hard work and completion of the maturation stage of the project, we hand over to ADMIE the baton of starting the construction of a project of top energy and geopolitical importance for Cyprus, Greece, Israel and Europe”.