The necessity to amend the regulatory framework to ensure that the Greece-Cyprus-Israel electrical interconnection mission to proceed easily, was talked about by the President and CEO of ADMIE, Mr. Manos Manousakis, talking on the ninth Vitality Transition Symposium organized by the Hellenic Society for Vitality Financial system (HAEE) ).
“We would like the regulatory framework to be accomplished on time. Already, a choice is below session that must be modified in some locations, to be able to make the mission sustainable and to proceed to repay the cable producer”, he emphasised.
Mr. Manousakis identified that ADMIE undertook the development of the interconnection primarily based on the existence of a regulatory framework that won’t create a threat of monetary loss for the Administrator, noting that the delay in its completion creates uncertainty for the mission.
He added that at the start of June the ADMIE administration will current to Cyprus the cost-benefit examine – on the idea of which the Republic of Cyprus will resolve its participation within the mission – the outcomes of which will likely be “very constructive for the mission”, as he commented traits.
Referring to the angle of the Cypriot authorities, he identified that it’s constructive and supportive, whereas the American authorities has additionally given a “vote of confidence” by means of the intention of the state fund DFC to put money into the mission, which, as he identified, “makes us optimistic that it’s going to not geopolitical threat will emerge.”
The island interconnection program is in full swing
The pinnacle of ADMIE additionally spoke in regards to the Crete-Attica interconnection which is heading in the direction of its completion.
“On the finish of 2024, the development work will likely be accomplished, whereas at the start of 2025, the electrification of the road will start on a trial foundation, which is able to final three months. Subsequently, in the summertime of 2025 when the demand for vitality will peak, Crete will likely be vitality safe”, he burdened.
Requested about the remainder of the home interconnections, Mr. Manousakis referred to the following tasks that are the interconnections of the Dodecanese, the place the identical HVDC expertise will likely be used as in Crete, in addition to the islands of the NE Aegean.
He defined that as a result of excessive demand within the worldwide cable market, the Administrator performed a unique tender to be able to group all of the tasks, to order the mandatory time slots within the contractors’ factories and to proceed based on the planning of the Ten-12 months Growth Program associated investments.
Want for a regulatory framework for ‘inexperienced’ vitality cuts
Concerning the difficulty of “inexperienced” energy era cuts, Mr. Manousakis argued that as we speak there is no such thing as a downside of electrical energy house. “The large funding curiosity within the development of RES tasks will result in the exhaustion of the electrical energy house within the coming years. We’re working along with the Ministry of International Affairs Working Group to create a regulatory framework for cuts for the nation,” he stated.
He made it clear that it’s not potential for ADMIE to compensate the vitality that’s lower, because it has already knowledgeable in regards to the present vitality house and the bounds of the system, including, nonetheless, that within the medium time period storage is anticipated to restrict the issue.
Concerning the longer term plans of the Administrator, he acknowledged that “now we have already began the medium-term planning for {an electrical} system that accommodates extra RES than corresponds to the demand, so as to have the ability to implement the nationwide vitality export technique”.
On this context, he clarified that the wants are so nice that within the medium time period we have to strengthen {the electrical} system to such an extent, as if we have been constructing a second one, at trunk degree, so that there’s sufficient electrical house to be channeled to the surface the vitality produced within the nation or originating from the broader area, to Europe.
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