The Council of State, Greece’s Supreme Administrative Court, is scheduled to hear a case filed by Euroasia Interconnector – a consortium of Cypriot interests heading a PCI-status grid interconnection project to link the Greek, Cypriot and Israeli systems – against Greek power grid operator IPTO on September 5.
Euroasia, embroiled in a dispute with IPTO for control of the Greek segment’s development, planned to link Crete with Athens, recently escalated its legal effort following a rejection by AEPP, the Authority for the Examination of Preliminary Appeals.
Commenting on the upcoming hearing, legal sources said they do not expect a favorable verdict for the Euroasia consortium.
Though the deadline of a project tender held by Ariadne Interconnector, an IPTO subsidiary, was given a one-month extension to September 30, procedures are progressing normally, while all major players appear interested, sources told energypress.
IPTO has increased the budget of the Crete-Athens interconnection to 380 million euros from an initial figure of 315 million euros. This 20 percent increase reflects the development cost, taking into account related projects in other parts of Europe as well as a high risk of delay-related costs.
The Crete-Athens interconnection needs to be completed in a 36-month period, far shorter than time periods of between 48 and 72 months offered for equivalent projects, internationally.
The Greek energy ministry has indicated a willingness to cooperate with the Cypriot consortium, making clear the project’s swift development is a pivotal factor behind decisions.
Greece has until October 31 to inform a European Commission committee if the country intends to support the Athens-Crete interconnection as a part of the wider PCI project or as a national project.