Greece and Cyprus have signed a memorandum of understanding (MoU) to press ahead with the planned subsea electric cable linking continental Europe to the East Mediterranean.
The Great Sea Interconnector (GSI) cable will link transmission networks of Europe to Cyprus in a project costing $2.1 billion. It will later stretch to Israel.
#Cyprus is in “advanced consultations” with the United Arab Emirates #UAE regarding the establishment of a joint company to participate in the share capital of the Great Sea Interconnector cable #GSI connecting the electrical grids of
— Marios Karatzias (@MariosKaratzias) September 21, 2024
Cyprus 🇨🇾 , Greece 🇬🇷 and later Israel 🇮🇱 ,… pic.twitter.com/J3hdRrh7ul
Based on the MoU signed, construction on the project will begin in the coming days.
“This is a project of strategic importance for Cyprus, Greece and the EU since it will link Cyprus to the electricity network of Europe, facilitating its energy transition and the aim of Greece to be a conduit of clean energy,” the joined ministries said.
Source: Euractiv.
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