Electricity Authority greenlights €45m infrastructure upgrade

14:17 - 29 May 2024

Economy Reporter

Electricity Authority of Cyprus (EAC) has given the green light for the construction of infrastructure projects totaling €45 million, in a move aimed at fortifying Cyprus's energy network.

These projects include the installation of new transmission substations, the upgrade of existing substations, and the installation of large transformers, as EAC President George Petrou told Cyprus News Agency (CNA) on Tuesday. Alongside this decision, Petrou also announced the drafting of a new strategy for EAC.

During a four-hour session, EAC Administrative Board awarded two bids, amounting to 25 million euros and 20 million euros each. With the approval of these bids, EAC has awarded bids for new projects in the Transport Department totalling 76 million euros this year.

Petrou said that the main projects included in the bids involve the installation of a substation at Limassol port and the reinforcement of networks.

"Our main priority is to strengthen networks and build new substations so that we can connect Renewable Energy Sources (RES) to the grid," he emphasised.

Additionally, Petrou announced the Board's decision to proceed with a new strategy regarding CERA's future, which will be drafted shortly.

(Source: CNA)

Electricity Authority greenlights €45m infrastructure upgrade

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