Latest developments concerning the prospective Great Sea Interconnector, a 1.9 billion-euro project planned to link the electricity transmission networks of Greece, Cyprus and Israel, indicate that investment interest is growing.
Officials of Greek power grid operator IPTO, promoting the project through an SPV, are expected to hold talks with representatives of Abu Dhabi-based fund TAQA, one of the key players examining the prospect of becoming a stakeholder in the Great Sea Interconnector.
This UAE fund has been conducting due diligence for months. The meeting between IPTO and TAQA officials suggests that TAQA is seriously considering joining the Great Sea Interconnector consortium.
In addition, IPTO is preparing to forward the consortium’s terms to the Israeli fund Aluma. The two sides signed a Memorandum of Understanding last year given this fund’s entry into the project.
Following up on talks with the Greek deputy energy minister in Washington last December, DFC’s leadership is believed to have expressed interest in participating in the project by either becoming a stakeholder with a 50 million euro sum or by contributing to its financing.
Though DFC has not yet gone into details, US state participation in the project would align with American energy security interests in the eastern Mediterranean region and also boost the project’s geopolitical standing, energypress.eu reports.
