RAE, Greece’s Regulatory Authority for Energy, is believed to be preparing to give power grid operator IPTO the green light to announce a tender for the construction of the Crete-Athens electricity grid interconnection, regardless of whether the project makes the European Commission’s PCI list.

Control of the Crete-Athens link has been disputed between IPTO and Euroasia Interconnector, a consortium of Cypriot interests heading a wider PCI-status Greek-Cypriot-Israeli electricity grid interconnection project.

RAE’s board will today examine various details concerning the Crete-Athens project, budgeted at one billion euros, energypress sources have informed.

On April 12, Greece’s energy ministry notified Brussels that Greece was withdrawing its support of the Crete-Athens link as a PCI-status project, which effectively transforms it into a national project.

RAE could soon forward a letter to IPTO encouraging it to announce the tender’s terms by assuring the operator that the project’s still-valid PCI status does not impact procedures, the same sources added.

If RAE forwards its anticipated approval enabling the commencement of the project’s procedures and no other delays emerge, then the project should be completed in the fourth quarter of 2022, as is scheduled, IPTO sources noted.