One of the largest electrical interconnection projects worldwide, is the project of the electrical interconnection of Greece – Cyprus – Israel (“Great Sea Interconnector” (formerly EuroAsia Interconnector), pioneering the laying of cables at a depth of 3,000 m. and innovative technology of conversion stations (High Voltage Direct Current).

The implementation of this project, distinguished for its high economic and geopolitical value, will lead to a drastic reduction of CO2 emissions, while at the same time the national grids of both Cyprus and subsequently Israel will acquire a green, reliable, two-way connection with Greece and the rest of Europe.

The electrical interconnection of Greece – Cyprus – Israel is integrated in Projects of Common Interest (PCIs), receiving a grant of 657 million euros from the European Commission. In order for the European Commission to proceed with such high funding of a cross-border project, it has carried out detailed cost-benefit studies, which have proven the benefit to consumers and the economic viability of the project.

The fact that the interconnection between Crete and Attica is being completed makes the Greece-Cyprus electrical interconnection project even more beneficial for consumers than at the time when the studies were carried out, given that the interconnection with Crete now means for Cyprus, interconnection with the European electricity system.

The electrical interconnection of Cyprus is the only way to sustainably develop RES and achieve the high European targets while ensuring prices much lower than today’s levels. Otherwise, in the option of autonomous development, it will be required very large storage capacity skyrocketing the cost of RES production, significantly burdening Cypriot consumers.

It is noted that today the administration of ADMIE will be in Cyprus where it will hold a meeting with officials of the Ministry of Energy and the Regulatory Authority of Israel with the object of maturing the Cyprus-Israel interconnection. Then it will follow tripartite conference of Greece – Cyprus – Israel under the coordination of ADMIE and with the presence of the Administrators of the two states.

At the same time, today and tomorrow a two-day technical meeting will be held in Cyprus between ADMIE, GSI and the Cyprus Transmission System Operator. The technical contacts will take place within the framework of the working group and the weekly teleconferences established by the two Administrators for the common understanding of the technical possibilities of the Interconnection and the completion of the Final Implementation Design Study prepared by Siemens.

Regarding the benefits of interconnection, ADMIE speaks of a triple benefit for Cyprus, as it will offer increased energy security, greener power generation mix and cheaper energy for all Cypriot consumers. In particular, the following are highlighted:

The electrical interconnection of Greece – Cyprus – Israel will lift the energy isolation of the EU’s last non-interconnected state contributing to the achievement of the high targets set by the European Union for RES penetration by 2040.

Towards this direction all EU countries are already moving, gradually moving towards the interconnection of their island regions in recent decades. Malta, which is the smallest island member state in terms of area and population and the penultimate one not connected to the European transport system, was also recently connected.

Regarding the benefits of the interconnection, the example of Crete is indicative, where the maximum demand is 0.8 GW, a size that corresponds to approximately 65% ​​of the maximum demand of Cyprus.

As it has been proven, the double interconnection of Crete, from Attica and Peloponnese, not only will not burden consumers but, on the contrary, is expected to lead to significant savings on electricity bills.

One can reasonably perceive that since the interconnection of Crete, an electrical system with a maximum demand of about 0.8 GW, a capacity of 1.2 GW and a total cost of about 1.5 billion euros, is economically viable and preferable compared to the autonomous development of its electricity system, then also the interconnection of Cyprus, a larger electricity system with a maximum demand of about 1.25GW, with a capacity of 1 GW, is equally beneficial.

The electrical interconnection of Greece – Cyprus – Israel will give Cyprus the opportunity to develop in a major Mediterranean energy hub, thanks to green energy exports to Europe through the cross-border electrical interconnections promoted by ADMIE.

Accordingly it will give the possibility for electricity exports to Israel as well, which will be supplied by both the domestic RES potential and the natural gas deposits it has.

The interconnection of Cyprus is the only way to sustainably develop RES and achieve the high European targets while ensuring prices much lower than today’s levels. Otherwise, in the choice of autonomous development, a very large storage capacity will be required, skyrocketing the cost of RES production, significantly burdening Cypriot consumers.

The interface on the one hand, it will push the development of large RES power and a reasonable size of storage for the development of this necessary local production and on the other hand it will not devalue the natural gas facilities that are being developed in Cyprus and which are expected to support the system temporarily, especially in periods of reduced RES demand.