The strengthening of Greece’s position through international connections was emphasized by the President and CEO of ADMIE M. Manousakis during his presentation at the 5th POWER & GAS FORUM organized by energypress.gr.
Mr. Manousakis referred to the investment program of ADMIE which he described as realistic, taking into account the increasing penetration of renewable energy sources and the need – throughout Europe – for a quick and secure energy transition.
As he said, “in recent years, administrators in neighboring countries have also been trying to upgrade their systems to facilitate the shift to RES, which in turn requires the development of national and cross-border electrical networks.”
At the same time, the increase of renewable sources in the energy mix creates challenges in the operation of the system, especially in recent years. Although the Administrator ensures the stability of the system, however, as he said, “further interventions are needed at the regulatory and legal level in order to improve the situation and facilitate the work of ADMIE”.
Mr. Manousakis underlined that Greece is a champion in Europe in the penetration of renewable sources, a success due to the timely and rapid development of networks by ADMIE.
“This will result in us achieving the goals of the National Energy and Climate Plan (ESEK), 3 to 4 times earlier,” he said.
The President of ADMIE made a special reference to storage, a technology that, as he said, “will contribute to the reduction of green energy cuts. “Until then,” he said, “it is the demand that will create the need for cuts, not the lack of electrical space.”
Referring to the Greece-Cyprus-Israel electrical interconnection project, which ADMIE has undertaken since October 2023, he emphasized that it strengthens the country’s export orientation, is of critical geopolitical importance, and is economically viable since the regulatory decisions for the revenue sharing.
Regarding the benefits of the project, he said that it is of critical importance, as the energy production in Cyprus is based on oil and the cost is currently double compared to the statistical cost for the European consumer.
“The implementation of the Greece-Cyprus-Israel electrical interconnection will result in cheaper energy for Cyprus”, Mr. Manousakis pointed out, as well as that “the geopolitical importance of the project is also obvious, given that the interconnection reaches Israel” .
He also emphasized that Israel has shown great interest in the quick implementation of the project, while in the next period there will be a meeting between the three parties involved in Cyprus.
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