InsiderEconomyMinister of Energy welcomes EU approval of €657 million for EuroAsia Interconnector

Minister of Energy welcomes EU approval of €657 million for EuroAsia Interconnector

Cypriot Minister of Energy Natasa Pilides welcomed Wednesday the approval of €657 million from European funds for EuroAsia Interconnector, a European Project of Common Interest aiming to connect the national electricity grids of Israel, Cyprus and Greece through a 1,208km subsea HVDC cable.

The funds were approved under the Connecting Europe Facility (CEF).
In a post on twitter, Pilides says that the € 657 million funding approved, “is excellent news for Cyprus” and points out that there’re multiple benefits of the electricity interconnection for Cyprus.

“The electricity interconnection will end energy isolation and contribute to RES integration and of European Union Internal Market completion”, the Minister wrote and thanked EU Commissioner for Energy Kadri Simson for continued support.

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