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Cyprus and Greece sign Framework of Understanding for electrical interconnection

07:44 - 23 September 2024

Economy Reporter

A Framework of Understanding has been signed between Cyprus and Greece to promote the Cyprus-Crete electrical interconnection.

The framework was signed by the Minister of Energy, Commerce and Industry of the Republic of Cyprus, George Papanastasiou and the Minister of Environment and Energy of Greece, Theodoros Skylakakis on 20 September.

Based on this framework and following the relevant decisions of the Regulatory Authorities of the two countries provided therein, the project is expected to restart in the coming days, a joint press release from the two Ministries stated.

The signing follows the decisions made during the recent meeting in Athens between the President of the Republic of Cyprus, Nikos Christodoulides, and the Prime Minister of Greece, Kyriakos Mitsotakis, the press release added.

The Framework of Understanding notes that the Electrical Interconnection of Cyprus–Crete will help eliminate the energy isolation of Cyprus by connecting the national electricity transmission system of Cyprus with the corresponding trans-European systems.

This is a project of strategic importance for Cyprus, Greece, and the entire EU, as it will not only connect Cyprus to the European electricity system, facilitating its energy transition, but will also promote Greece's goal of becoming a corridor for the transfer of clean energy, the press release added.

(Source: CNA)

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