Cyprus began a European Union-funded project on Friday to expand an electric cable that connects the island in the eastern Mediterranean in Greece.
The European Commission stated that the cable, which will span 1208 km at a depth of more than 3,000 metres, “will achieve a new global record,” as the European-Asian Electricity Electricity line will connect Cyprus’ electricity networks with those of Israel and Greece through a continuous high-voltage and under-sea transport system. The project’s total cost, which will be between 1,000 and 2,000 megawatts, is 1.
The French Press Agency cited the Cypriot government’s estimate of 57 billion euros.
During the project’s opening ceremony, European Energy Commissioner Qadri Simson stated that the high energy costs brought on by the Ukrainian crisis confirm “the relevance of this project, which helps Europe to diversify its sources and improve its energy security.
” The Cypriot President Nikos Anastasiads described the day of inauguration as “historical” because the island “is in a good position to start building” the cable, explaining that “Cyprus can become a source of energy with capabilities starting with 120 gigawatts in 2027 and reaches a thousand in 2030, and exceeds 1800 in 2033 “.
It is important to note that the European-Asian Electric Electric Line is expected to begin construction at the end of this year.
In order to end Cyprus’ “isolation” in the energy sector—the only European nation without a connection to the continent’s gas or electricity grids—the European Union agreed to contribute financial support totaling 757 million euros to finance the cable building. Cyprus has been a member of the EU since 2004.
launching a proposal to construct a cable connecting Cyprus to the EU
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