The cost-benefit study for the Cyprus-Israel section of the Great Sea Interconnector (GSI), which constitutes the second part of the Greece-Cyprus-Israel electricity interconnection, has been presented to the competent regulatory authorities of Cyprus (CERA) and Israel (PUA) by Greece’s Independent Power Transmission Operator (IPTO) as the project promoter, in the presence of representatives of the energy ministries of the two countries, as well as a representative of the Directorate-General for Energy of the European Commission.
The study, which was prepared by the company Exergia in collaboration with the National Technical University of Athens (NTUA), which had also undertaken the corresponding study for the other section of the GSI, Crete-Cyprus, confirms the significant benefits of the project for the two countries that the project interconnects, Cyprus and Israel.
By the end of July, IPTO will submit a complete file to the co-competent regulatory authorities of the two countries with the official investment request, in order for them to issue a joint decision on the CBCA (Cross-Border Cost Allocation), which concerns the sharing of costs between the states and the securing of the project’s revenue.
As the IPTO stated, these procedures constitute the first critical step for the maturation of the project, in accordance with the European TEN-E Regulation, in order to establish the necessary regulatory framework that will ensure its revenue and subsequently launch its construction.
