Nicosia based EuroAsia Interconnector, a long standing IENE corporate member,has been making impressive progress over the last few months in realizing its main objective which is the electricity interconnection of Cyprus with Greece and Israel. Work is in progress on the electric tie up between mainland Greece and the island of Crete, following completion in January of the first leg of the project and the laying of an AC electric cable,the longest in the world.
Greece'
s IPTO is in charge of the mainland to Crete electricity link while EuroAsia
Interconnector is developing the Crete-Cyprus-Israel one. And with EurοΑsia
Interconnector now moving into construction phase with the installation of a
huge inverter station in Cyprus, the foundations have been laid for what will
soon become an giant electric arc spanning across half the Mediterranean
Sea.
For EuroAsia Interconnector the whole project is a dream come true as the company first framed its ambitious plan back in 2012 at a time when very few people believed that such a project had any chance of materializing. Having carried out all the necessary pre feasibility studies EuroAsia Interconnector was successful in obtaining at an early stage much needed backing from the EU and thus managing to include the Interconnector in the PCI funded projects.EU backing was absolutely crucial,note company executives, in securing much needed political support and in raising the necessary finance. Furthermore the significance of the EuroAsia project is illustrated by its inclusion in ENTSO's Ten Year Development Plan (TYNDP).
With total costs for the Crete-Cyprus-Israel leg amounting to € 2.5 billion and an extra € 1.0 billion for the mainland Greece to Crete connection ,this electrical link is one the most expensive single infrastructure projects currently being built in the region. The EuroAsia Interconnector is now regarded as a project of high strategic value for the three countries directly involved but also for the EU on account of its role in the strengthening of security of energy supply. By helping integrate the isolated small electricity systems of Crete and Cyprus with the Israeli and European electricity networks the EuroAsia Interconnector will not only secure uninterrupted and multidimensional flow of energy for the entire region but will also enhance long term electricity supply to Europe,by enabling electricity generated by gas rich Israel and Cyprus to reach several European destinations.
