On 17 May, Cyprus submitted its national RRP with a cost of €1.206 billion to the European Commission.
European Commission president Ursula von der Leyen, said:
- The EuroAsia Interconnector electricity interconnection ends the energy isolation of Cyprus, the last non-interconnected EU member state, ensures security of supply, more competitive wholesale electricity prices and enables the increased use of electricity from cleaner sources, in particular renewables, by connecting the electricity network of Cyprus to the Union continental system
The 1st phase of the 2,000MW interconnector is expected to be operational within 2025.
The project has secured all the relevant permits and licensing, including binding offers from Siemens and high voltage cable manufacturers Nexans and Prysmian, and is proceeding with the start of construction works.