The Independent Power Transmission Operator ADMIE has reached an agreement for a strategic participation in the share capital of EuroAsia Interconnector, which has assumed the implementation of the Greece-Cyprus-Israel electrical interconnection.
Participating with a percentage of 25% in the flagship project of the electrical interconnection of Cyprus and Israel in the European electrical system, through Greece, ensures the technical and financial adequacy of the project and lays the foundations for its timely completion by 2027.
ADMIE has been a technical consultant to the project since 2021, having contributed decisively to its design maturation and financial support from the European mechanism, Connecting Europe Facility (CEF), with 657 million euros.
The completion of the project will mark the electrical interconnection of Cyprus – the last non-interconnected EU member state – with the European transmission system, ensuring the island’s strong energy shield. Israel, which also does not have any electrical interconnection with its neighbors, will enhance its supply, having the possibility to increase, further and faster, the participation of Renewable Energy Sources (RES) in its energy balance.
