On Friday, Cyprus launched a European Union-funded project to lay an underwater electrical cable that will connect an island in the eastern Mediterranean to Greece.
The European Commission explained that the cable, which will be 1,208 kilometers long and over 3,000 meters deep, will “set a new world record” as the Eurasian Electric Interconnection Line will connect Cyprus’ electrical grids to those of Israel and Greece via a high-voltage DC undersea power transmission system, while while the total cost of the project, which will have a capacity of one thousand to two thousand megawatts, amounted to 1.57 billion euros, according to the Cypriot authorities.
This was stated by the European Commissioner for Energy Kadri Simpson. Project Launch Ceremony Rising energy prices due to the consequences of the Ukrainian crisis confirms “the importance of this project, which allows Europe to diversify its sources and increase its energy security.”
Cypriot President Nikos Anastasiades called the inauguration day “historic” because the island is “well positioned to start construction” of the cable, explaining that “Cyprus could be a source of energy from 120 gigawatt-hours in 2027 to reach a thousand in 2030 and exceed 1,800 in 2033.”
It is worth noting that the construction of the Eurasian connecting line is scheduled to begin at the end of this year and be completed in 2027.
The European Union agreed to provide financial support of 757 million euros to finance the construction of the cable to end its “isolation”. Cyprus is in the energy sector as Cyprus is the only European country not connected to mainland Europe in the gas or electricity sectors and has been a member of the European Union since 2004.
Source: AFP