A videoconference, held under the auspices of the European Commission and attended by the Regulatory Authority for Energy, Cyprus Energy Regulatory Authority, and IPTO, regarding the Greece–Cyprus electricity interconnection project concluded on Tuesday without coming to an agreement. The involved parties agreed, however, to resume discussions next Wednesday.
According to reliable sources, the meeting yielded no concrete outcome, leaving the project — known as the Great Sea Interconnector — shrouded in uncertainty. Technical and regulatory issues remain under the persistent and mounting pressure of geopolitical factors, which increasingly appear to shape the project’s future direction.
Geopolitical risks and the position of IPTO
Geopolitical risks remain in the field, reminding and highlighting the importance of political intervention and will on both sides to overcome them, and given that these now far exceed the “size” of IPTO as the project promoter of the project.
On his part, the Chairman and CEO of the Operator, Manos Manousakis, speaking at the 8th InvestGR conference commented on IPTO’s stance: “We are stating the obvious. IPTO has invested 250 million euros in equity and for this to continue to happen, a stable framework is needed. The relationship with Nexans is good and there is trust and decisions will be made on the basis of cooperation in the future.”
