The ceremony was attended by European Commissioner for Energy Kadri Simson, President of Cyprus Nicos Anastasiades, Greek Energy Minister Kostas Skrekas, Cypriot Energy Minister Natasa Pilides and CEO of EuroAsia Interconnector Nasos Ktorides. The inauguration ceremony on the start of the construction works of Interconnector held on Octoat the Presidential Palace in Nicosia. On 26 January 2022, the European Commission approved €657 million under the Connecting Europe Facility (CEF) for EuroAsia Interconnector. ĮuroAsia Interconnector got €100 million funding from EU Recovery and Resilience Plan. President of the European Commission Ursula von der Leyen visited Cyprus on 8 July 2021 and officially presented EU approval for the Cyprus plan to spend €1.2 billion under the EU Recovery and Resilience Plan. There are particular benefits for all countries involved since the Interconnector will spur investment in renewables.

On 8 March 2021, Cyprus, Greece and Israel signed an initial agreement to build the world's largest and deepest submarine power cable that will connect the three Mediterranean countries' power grids.

Ī final call for tenders for the construction of Stage 1 with an estimated budget of €2.5 billion was published in November 2019 and in February 2021 in the Official Journal of the European Union. Įnergy-sector technical engineering recruitment firm Fircroft included the EuroAsia Interconnector as the fourth biggest among 10 major transmission and distribution projects in the world for 2019 and beyond. įormer Cyprus Foreign Minister and head of the European Parliament Foreign Affairs Working group Ioannis Kasoulides joined EuroAsia Interconnector on 30 March 2018, as Chairman of the Strategic Council.

On 10 December 2019, Greek Energy and Environment Minister Kostis Hatzidakis and Israeli Energy Minister Yuval Steinitz both reiterated their countries’ support in the Israel-Cyprus-Crete electricity interconnection project, the PCI 3.10 EuroAsia Interconnector, at the 25th UN Climate Change Conference in Madrid. On Decemtransmission system operator Elia announced the conclusion of a strategic alliance agreement for the development and implementation of the 2,000 MW interconnector. On, the Greek Prime Minister Alexis Tsipras met the State Grid Corporation of China Chairman Shu Yinbiao in Beijing, and CEO of EuroAsia Interconnector Nasos Ktorides supported the timely implementation of the EuroAsia Interconnector. ENTSO-E calculated that expected reduction of CO 2 is between 1.3 and 6.8 million tonnes each year, or between 21% and 110% of total emissions of Cyprus. Īccording to ENTSO-E's analysis, the interconnector will contribute to social and economic welfare between €580m and €1.12 billion each year. Regulatory approval of electricity interconnection between Cyprus and Greece was completed on October 10, 2017. Connecting Kofinou, Cyprus to Hadera, Israel and Korakias, Crete, Greece, the EuroAsia Interconnector is a major Project of Common Interest (PCI) of the European Union and a priority Electricity Highway Interconnector Project as an energy highway bridging Asia and Europe. The EuroAsia Interconnector is a planned HVDC interconnector between the Greek, Cypriot, and Israeli power grids via the world's longest submarine power cable, with a length of 310 kilometres (190 mi) from Israel to Cyprus and 898 kilometres (558 mi) from Cyprus to Greece for a total of 1,208 kilometres (751 mi).

Israel cable link power grids via