A project with a triple benefit for Cyprus is the “Great Sea Interconnector”, implemented by ADMIE, as it will offer it increased energy security, a “greener” electricity generation mix and cheaper energy for all Cypriot consumers.
The electrical interconnection of Greece – Cyprus – Israel will remove the energy isolation of the last non-interconnected state of the EU, contributing to the achievement of the high goals set by the European Union for RES penetration by 2040.
All EU countries are already moving in this direction, gradually progressing in the interconnection of their island regions in recent decades.
Malta, which is the smallest island member state of the EU in terms of area and population and the penultimate one not interconnected with the European transport system, was also recently connected.
Regarding the benefits of the interconnection, the example of Crete is indicative, where the maximum demand is 0.8 GW, a size that corresponds to approximately 65% of the maximum demand of Cyprus.
As it has been proven, the double interconnection of Crete, from Attica and Peloponnese, not only will not burden consumers but, on the contrary, is expected to lead to significant savings on electricity bills.
One can reasonably perceive that since the interconnection of Crete, an electrical system with a maximum demand of regarding 0.8 GW, a capacity of 1.2 GW and a total cost of regarding 1.5 billion euros, is economically viable and preferable compared to the autonomous development of its electricity system, then the interconnection of Cyprus, a larger electricity system with a maximum demand of regarding 1.25GW, with a capacity of 1 GW, is equally beneficial.
Cyprus is an energy hub
The electrical interconnection of Greece – Cyprus – Israel will give Cyprus the opportunity to develop into a major energy hub of the Mediterranean, thanks to the exports of green energy to Europe through the cross-border electrical interconnections promoted by ADMIE.
Correspondingly, it will enable the export of electricity to Israel, which will be supplied by both the domestic RES potential and the natural gas deposits it has.
The interconnection of Cyprus is the only way to sustainably develop RES and achieve the high European targets while ensuring prices much lower than today’s levels. Otherwise, in the choice of autonomous development, a very large storage capacity will be required, skyrocketing the cost of RES production, significantly burdening Cypriot consumers.
The interconnection will, on the one hand, push the development of large RES capacity and a calculated size of storage to develop this necessary local production, and on the other hand, it will not devalue the natural gas facilities that are being developed in Cyprus and which are expected to support the system in the interim, especially in periods of reduced RES demand .
The electrical interconnection of Greece – Cyprus – Israel is included in the Projects of Common Interest (PCIs), receiving a grant of 657 million euros from the European Commission. In order for the European Commission to proceed with such high funding of a cross-border project, it has carried out detailed cost-benefit studies, which have proven the benefit to consumers and the economic viability of the project.
The fact that the interconnection between Crete and Attica is completed makes the Greece-Cyprus electrical interconnection project even more beneficial for consumers than the period when the studies were carried out, since the interconnection with Crete now means for Cyprus, interconnection with the European electricity system.
The Greece-Cyprus-Israel electrical interconnection project is one of the largest electrical interconnection projects worldwide, pioneering the laying of cables at a depth of 3,000 m and innovative technology of conversion stations (High Voltage Direct Current).
The implementation of this project, distinguished for its high economic and geopolitical value, will lead to a drastic reduction of CO2 emissions, while at the same time the national networks of both Cyprus and subsequently Israel will acquire a green, reliable, two-way interconnection with Greece and the rest of Europe.
Today (April 9) the administration of ADMIE will be in Cyprus where it will hold a meeting with officials of the Ministry of Energy and the Regulatory Authority of Israel with the object of maturing the Cyprus-Israel interconnection. Afterwards, a tripartite conference of Greece – Cyprus – Israel will follow under the coordination of the ADMIE and with the presence of the Administrators of the two states.
In parallel, on April 9 and 10, a two-day technical meeting will be held in Cyprus between ADMIE, GSI and the Cyprus Transmission System Operator. The technical contacts will take place within the framework of the working group and the weekly teleconferences established by the two Administrators for the common understanding of the technical possibilities of the Interconnection and the completion of the Final Implementation Design Study prepared by Siemens.
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