EuroAsia Interconnector

A solution appears likely for the funding snags for EuroAsia interconnector, the planned high-voltage direct-current cable that will connect the power grids of Greece, Cyprus and Israel.

Nexans said on Wednesday it has won a contract worth 1.43 billion euros for the section of the EuroAsia Interconnector that will connect Greece and Cyprus.

Subsea cables will be manufactured at Nexans' facilities in Halden in Norway and Futtsu in Japan.

Greece's Independent Power Transmission Operator (ADMIE) will hold a strategic 25% stake in the share capital of the EuroAsia Connector, the company managing the project for the electric interconnection of Greece, Cyprus and Israel and the energy ministries of Greece and Cyprus announced on Thursday.

The eastern Mediterranean can provide a key energy corridor to Europe through a planned electricity cable connecting the power grids of Cyprus, Greece and Israel and a potential natural gas pipeline, the three countries' top diplomats said Friday.

Greece is emerging as an energy hub for Europe and an important geopolitical actor, while the country is willing to support multiple interconnections to become a leader in energy supply in the region, said Andreas Borgeas, a former California state senator and currently the CEO of the Greece-Africa Power (GAP) Interconnector linking Greece and Egypt.

Electricity generated from renewable energy sources on Cyprus could eventually make up as much as half of all power conveyed to other countries through an electricity cable linking the island nation's power grids to Israel and Greece, the Cypriot energy minister said Tuesday.

The budget of the Ministry of Defence of the Republic of Cyprus for the year 2023 amounts to €523 million

Bulgaria will sign a contract for the design of a new gas interconnector with Serbia, it became clear during a regional energy meeting in Sofia.

It was attended by the Ministers of Energy of Bulgaria, Greece, Romania, Turkey, Azerbaijan, Ukraine and North Macedonia.

The key topic of discussion during the meeting was energy security and independence of the whole region.

The project will connect the electricity networks of Israel, Cyprus & Greece was approved by the EU following a proposal by the Commission

The developers behind the EuroAsia Interconnector aim to commission the first phase by the end of 2025