![]() To review and monitor the implementation of the MoU, periodic meetings will be held by the ministers or their representatives.Īddressing the signing, Pilides, spoke of another important milestone in the joint efforts of the three countries to promote regional cooperation in the field of energy. ![]() Such cooperation will involve facilitating the timely granting of necessary permits and approvals, discussions and coordination between electricity regulatory authorities and Electricity Transmission System Operators, the harmonisation of the three countries’ respective technical standards and examining ways and means of ensuring the safety, security, sustainability, resilience and reliability of the electricity interconnector cable. In this context, the ministers agreed to promote cooperation to examine the possibility of planning, as well as the potential development and implementation of the Project. “The three ministries, in recognising the high level of trilateral cooperation in the field of energy between Cyprus, Israel and Greece, view the EuroAsia Interconnector, an EU Project of Common Interest, as a major step forward for providing the necessary synergies that will facilitate the integration of additional renewable energy sources in their respective electricity and primary energy supply mixes, thereby enhancing the ability of the three countries to meet their commitments under the Paris Agreement on Climate Change,” they said. In a joint statement, the three ministers hailed the Euroasia Interconnector as an extremely important step in achieving the necessary synergies that will facilitate the inclusion of more renewable sources of energy, enhancing the three states’ capability to fulfil commitments in line with the Paris Agreement on climate change. The MoU was signed at the presidential palace in Nicosia by the energy ministers of Cyprus and Israel Natasa Pilides and Yuval Steinitz, while their Greek counterpart Costas Skrekas signed it online in Athens. The EuroAsia Interconnector, which aims at ending the energy isolation of Cyprus, is a leading European Project of Common Interest (PCI), an EU “electricity highway” connecting the national electricity grids of Israel, Cyprus and Greece through a 1,208km subsea HVDC cable. The so-called EuroAsia interconnector is planned to gave a capacity of up to 2 GW once commissioned in 2025.Ĭhoose your newsletter by Renewables Now.Cyprus, Israel and Greece on Monday signed a memorandum of understanding (MoU) on cooperation in relation to the EuroAsia Interconnector, taking another step towards the implementation of an ambitious project to link the electricity grids of the three countries. "For Cyprus, the electricity connection with Egypt has the potential to be a cornerstone of our efforts to transition to a green economy," said Cyprus’ energy minister Natasa Pileidou.Įarlier this year, Israel, Cyprus and Greece agreed to develop a subsea cable project to connect their power grids. The agreement aims to speed up the approval procedures and feasibility studies. Calling it a “bold strategic initiative”, Skrekas pointed out that the project will enhance his country's geopolitical role and strengthen its position as a hub for green energy transmission in Southeast Europe.Īs part of the project, Cyprus on Saturday sealed a MoU to connect its power grid with the one of Egypt, thus creating a framework of cooperation that facilitates the scheme's design, licensing, development and implementation. ![]() The country’s minister of environment and energy Kostas Skrekas said in a Twitter post that the power line is seen to contribute significantly to the region’s energy security and secure the flow of green energy between Greece and Egypt. Greece announced its pact with Egypt on Thursday. The involved countries are due to sign a tripartite MoU this week. The interconnector is planned to transmit power produced by renewables in North Africa to Europe. The governments of Greece and Cyprus have signed separate Memoranda of Understanding (MoU) with Egyptian authorities to link their power systems to Egypt’s via a subsea link. ![]()
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