The energy giants cooperating with the EuroAsia Interconnector

The government is awaiting the results of a study being assigned to a specialised evaluation agency, so that through its findings it will have a secure picture of the viability and geostrategic value of the EuroAsia Interconnector.

The findings of the study will also determine the government’s decision on whether and how it will be involved in the Cyprus-Greece-Israel electrical interconnection project.

At the same time, the implementing agency - EuroAsia Interconnector Limited - is in the process of securing loans to fully finance the project, while proceeding to increase its share capital and looking forward to - in one way or another - the state's contribution to the whole effort.

A private Cypriot company, the main shareholders of the implementation agency EuroAsia Interconnector Limited, with a participation of more than 5%, are Athanasios (Nasos) Ktorides and the Greek public company GEK Terna SA, while in the context of the current process of increasing the company's share capital, the Greece’s Independent Power Transmission Operator S.A. (IPTO) participates with 25%. The remaining percentage of the share capital increase is covered by existing and new shareholders.

In addition to its local staff, Cypriot specialised professionals with many years of knowledge and experience in their field, the implementing agency has formed a strong group of partner companies, global leaders in their field, which guarantees the efficient construction and operation of the project.

Specifically, the international group of consultants working together with the implementing agency includes the following organisations:

Elia Group

The subsidiary company of the Transmission System Operator of Belgium Elia Group-EGI and the Transmission System Operator of Germany 50Hz, with international experiences especially in the development and management of high voltage direct current (HVDC) subsea electrical interconnection projects and offshore electricity projects, with a recent project the implementation of the electrical interconnection of Belgium- United Kingdom.

CESI SpA

The Italian company CESI SpA with 50 years of experience, in which the main shareholder is also the Italian System Operator Terna SpA, with expertise in the study and development of HVDC electrical interconnections and experience in the great depths of the Mediterranean.

CESI is the largest quality control organisation in the world, having dedicated laboratories for the quality control of cables and electrical interconnection substation equipment systems, with a recent project the implementation of the Sicily-Malta electrical interconnection.

Stantec

Canadian Stantec has been a world leader in the study, design and implementation of complex HVDC projects for the past 50 years, and has the expertise and experience to support the development of HVDC projects across the world.

Stantec has worked as Owner's Engineer on projects implemented by all major HVDC equipment suppliers and has provided engineering services on projects representing over 90,000 MW of total planned or installed HVDC capacity worldwide.

PwC

The global auditing and consulting firm PwC supports the Implementing agency through its offices in Athens, London and Luxembourg by providing knowledge and experience in energy infrastructure and especially in economic, regulatory and financial matters.

Clifford Chance

Clifford Chance is a leading global law firm and serves established energy companies due to its capabilities and experience in high-value cross-border electricity interconnection work.

The combination of extensive background and unique experience in advising member states and companies on EU legislation. on state aid and EU funding programmes, combined with her experiences of working with EU authorities, gives the team a deep understanding of the issues they have to deal with and the process to follow.

Clifford Chance has vast experience in complex electricity interconnection projects and has worked on some of the largest projects worldwide.

These include, in addition to the EuroAsia interconnection, the ALEGrO electricity interconnection between Belgium-Germany and the MOG offshore electricity transmission network of Belgium, as well as many other innovative offshore electricity projects.

IPTO

Additionally, during the construction stage, the implementing agency cooperates with the Independent Power Transmission Operator S.A. (IPTO), which offers technical consulting services for construction coordination.

(Source: InBusinessNews)