The energy ministry and power grid operator IPTO seem determined to press ahead with two major grid interconnection projects, one to link Greece with Cyprus and Israel, the other Greece and Egypt, REPowerEU, Europe’s strategic plan aiming to end the continent’s reliance on Russian fossil fuels through energy-source diversification, being the driving force behind this action.
IPTO, according to sources, is just about ready to forward a proposal for participation in EuroAsia Interconnector, a consortium established for the development of the Israel-Cyprus-Greece grid interconnection.
Highlighting the activity concerning the project, officials of Israel’s power grid operator are in Athens for talks today with IPTO’s chief executive Manos Manousakis and other company officials.
The Israeli officials will also take part in an ensuing meeting with Greek energy minister Kostas Skrekas.
Israeli interest in the grid interconnection has grown following the European Commission’s decision to make available 657 million euros for the project’s Cyprus-Greece section.
The Israel-Cyprus-Greece grid interconnection will facilitate RES development in Israel, promising to contribute to the EU-27 aim for an end of Europe’s reliance on Russian fossil fuels.
The grid link, to measure 1,208 kilometers and offer a 1-GW capacity, will also end Cyprus’ energy isolation and offer energy security to Israel.
It is budgeted at 2.5 billion euros with completion slated for the end of 2025, if procedures go according to plan.
Manousakis, the IPTO chief executive, plans to visit Cairo during June for talks with officials at Egypt’s power grid operator, EETC. Progress on the prospective Greek-Egyptian grid link has been smooth. The two sides are now preparing for a feasibility study.
Skrekas, the energy minister, is expected to be in Egypt sooner, to take part in the East Med Gas Forum, scheduled for June 14 and 15. He is expected to meet with Egyptian energy ministry officials on the sidelines of this event, for talks on the Greek-Egyptian grid link.
This project, based on a proposal from the Copelouzos group, entails a subsea cable from Egypt to the Greek capital.
It is budgeted at 3.5 billion euros and will offer a 3-GW capacity for renewable energy, which will also be exported to other EU member states through grid interconnections linking Greece with neighboring countries.