An over 1500 km long cable under the sea will connect the electricity networks between Cyprus, Greece, Israel and Europe.
Some lots will be at a depth of nearly three thousand meters. This makes the cable unique in two respects: the length of the cable and the depth it will be at.
The project has been named Euro-Asia interconnector and is classified by the EU as a so-called project of common interest – a PCM, project of common interest.
The countries signed a declaration of intent together on 8 March. A first stage should already be completed in 2022.
By the end of 2023, the capacity will be 1GW, to reach double in 2024.
The project involves an investment of € 3.5 billion. It will help the EU reach the stated goal of ten percent of electricity network capacity being interconnected.
It also removes Cyprus’ isolation from other EU countries – Cyprus is the only country in the EU that does not have electricity or gas connections with the rest of the EU.
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