Europe: Brent oil, TTF...

During the fourth week of June, Brent crude oil futures prices experienced a...

Europe: Electricity prices fall...

In the fourth week of June, average electricity prices declined across most major...

Europe: Electricity demand rises...

During the week of June 23, electricity demand rose across most major European...

Solar and wind energy...

During the week of June 23, solar photovoltaic (PV) energy production rose in...
Supported byClarion Energy
HomeSEE Energy NewsGreece: Cypriot State...

Greece: Cypriot State to enter Great Sea Interconnector project

The Cypriot State’s entry into Greek power grid operator IPTO’s Great Sea Interconnector subsidiary formed for the development of a Greece-Cyprus-Israel electricity interconnection is considered certain following positive high-level talks held last week in Cyprus.

An IPTO team led by CEO Manos Manousakis discussed the project with Cyprus’ president Nikos Christodoulides, joined by the administration’s energy minister Giorgos Papanastasiou. The IPTO team also met with Cyprus’ regulatory authority for energy.

It is now considered just a matter of time before the finalized results of a feasibility study conducted on behalf of the Cypriot State are delivered. The study is expected to give the green light for a final investment decision.

The Cypriot State is expected to enter the Great Sea Interconnector subsidiary with an initial sum of 100 million euros from the Recovery and Resilience Facility (RRF).

IPTO is also expected to hold talks with two other prospective Great Sea Interconnector entrants, Israeli fund Aluma, and TAQA, the Abu Dhabi National Energy Company, for their participation in the project, budgeted at 1.9 billion euros, with 657 million euros secured through the Connecting Europe Facility.

The consortium could feature the three aforementioned participants along with IPTO, but it is still too early to tell if this could result in respective 25 percent stakes for all four.

Supported byOwner's Engineer banner

Recent News

Supported byspot_img
Supported byspot_img

Latest News

Supported byspot_img
Supported bySEE Energy News

Related News

Europe: Brent oil, TTF gas and CO2 prices decline in late June amid easing Middle East tensions

During the fourth week of June, Brent crude oil futures prices experienced a decline. On Monday, June 23, the price settled at $71.48 per barrel, already 7.2% lower than the last session of the previous week. Prices continued to...

Europe: Electricity prices fall in late June amid lower gas costs and high renewables

In the fourth week of June, average electricity prices declined across most major European markets compared to the previous week. The United Kingdom’s N2EX market experienced the largest drop, falling by 28%. Other markets saw decreases ranging from 1.3%...

Europe: Electricity demand rises in most markets amid seasonal shifts and holidays

During the week of June 23, electricity demand rose across most major European markets compared to the previous week. Germany and Italy saw the largest increases, with demand growing by 8.2% and 8.1% respectively. France experienced the smallest increase...
Supported byVirtu Energy
error: Content is protected !!