Plans to link the electricity grids of Cyprus and Greece have hit a new stumbling block, with Nicosia asking Greece’s Chinese backed Independent Power Transmission Operator (IPTO), the project’s operator, for a cost-benefit study before it can approve investing €100mn ($107mn) into the €1.9bn ($2bn) project.
The Great Sea Interconnector (formerly EuroAsia Interconnector) aims at connecting Cyprus and Greece’s grids via a 1GW subsea HVDC cable, with further plans to connect Cyprus and Israel’s grids and expanding capacity to 2GW in a second phase. Last year’s change of hands to IPTO was hoped to spur investment to help the project advance. Despite an MoU being signed in December with the UAE’s Taqa and Cyprus’ Ministry of Energy, commitments to spend have been slow to materialize (MEES, 8 December 2023). (CONTINUED - 280 WORDS)