In a
historic decision for Cyprus, the Energy Regulatory Authorities of Cyprus and
Greece, have issued a joint decision for the cross-border cost allocation of
the electricity interconnection EuroAsia Interconnector between Cyprus and
Greece, as provided by the European Regulation 347/2013 for Projects of Common
Interest (PCIs).
This
is a historic moment for Cyprus as it ends the electricity isolation of the
last European Union member state that remains energy isolated.
The
EuroAsia Interconnector, as the official Project Promoter from the European
Commission, expresses its warmest appreciation to all the competent authorities
in Cyprus and Greece, the European Commission for their continuing support and
especially the Energy Regulatory Authorities of Cyprus and Greece.
The EuroAsia Interconnector as a leading
Project of Common Interest (PCI) of the European Union, comprises of the
electricity interconnection between the grids of Israel, Cyprus and Greece (via
Crete) through a subsea DC cable and with HVDC onshore converter stations at
each connection point, with a total capacity of 2000MW. The project is an
energy highway and bridge between the two continents with a total length of
1520kms and creates a reliable alternative route for the transfer of electric
energy to and from Europe.