12/29/2023 0 Comments Israel cable link power grids viaThe European Union has recognised the cable as a "Project of Common Interest", categorising it as a project it is willing to partly finance. The Greek operator and Eurasia have been working closely to make sure the two cables link to each other efficiently, an IPTO official said. Greek power grid operator IPTO has started construction of the Crete-mainland part, seen concluding by 2023. ATHENS Greece’s push to diversify sources will include a so-called Energy Highway, the world’s longest and deepest power cable, under the Mediterranean, to connect with the electricity grids of Israel and Cyprus. It will cover three sections of the Mediterranean: some 310 kilometres between Israel and Cyprus, about 900 kilometres between Cyprus and Crete, and about 310 additional kilometres between Crete and mainland Greece. Underwater Cable Will Link Israel-Cyprus-Greece on Energy Highway. With a length of about 1,500 km and a maximum depth of 2,700 metres, it will be the longest and deepest subsea electricity cable to have ever been constructed, it said.Ĭalling the project a '2,000 mega-watt highway', Pilides said the first stage is expected to be operational within 2025. The cable will have a capacity of 1,000-2,000 megawatts (MW) and is expected to be completed by 2024, according to Israel's energy ministry. The EuroAsia Interconnector comprises the electricity interconnection between the grids of Israel, Cyprus, Greece through a subsea DC cable and with HVDC. The project, called the Euro-Asia interconnector, will provide a back-up power source in times of emergency, said Israeli Energy Minister Yuval Steinitz, who was in Nicosia to sign a memorandum of understanding with his counterparts.Ĭypriot Energy Minister Natasa Pilides said it marked "a decisive step towards ending the island's energy isolation, and consequently, our dependence on heavy fuels." Coming up with the remainder should not be difficult because several investment funds have expressed interest in contributing financing, Papanastasiou said.Cyprus, Greece and Israel on Monday signed an initial agreement to build the world's longest and deepest underwater power cable that will traverse the Mediterranean seabed at a cost of about $900 million and link their electricity grids. The European Union has earmarked around 800 million euros ($863 million) for the project. The government says the connected power grids would mean cheaper and cleaner energy for Cyprus and help to ensure the island nation’s energy security. Papanastasiou said the Cyprus government is expected to make a decision by the end of January on funding the project with a 100 million-euro capital investment ($108 million). Greece's Independent Power Transmission Operator recently took over management of the project, which Manousakis called “of strategic significance.” The overall length of the 2000MW cable from Greece to Israel would be 1,208 kilometers (750 miles). “We hope that hostilities end so we can pick up consultations where we left them off,” he said. Technical talks on moving ahead with the Cyprus-Israel section are on hiatus because of the ongoing Israel-Hamas war, according to Papanastasiou. The Crete-Cyprus section of the Mediterranean Sea cable should be ready by 2029 at the latest, Cyprus Energy Minister George Papanastasiou said. Manousos Manousakis, president and chief executive officer of Greece’s Independent Power Transmission Operator, told reporters that contracts also are expected to be signed with technology company Siemens next year for the construction of converter stations on the Greek island of Crete and in Cyprus that are key to the flow of electricity through the cable. NICOSIA, Cyprus - Construction of a 1.9 billion-euro ($2.05 billion) section of an electricity cable that will connect the power grids of Greece and Cyprus is slated to begin in the new year, officials said Thursday.Īn eventual extension of the renamed Great Sea Interconnector is planned to connect Israel’s power grid as well.
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