Filenews 9 April 2024
A project with triple benefit for Cyprus is the "Great Sea Interconnector" electrical interconnection, implemented by ADMIE, as it will offer increased energy security, a greener power generation mix and cheaper energy for all Cypriot consumers.
The electricity interconnection between Greece – Cyprus – Israel will lift the energy isolation of the last non-interconnected EU state, contributing to the achievement of the high targets set by the European Union for RES penetration by 2040.
All EU countries are already moving in this direction, gradually proceeding with the interconnection of their island regions in recent decades. Malta, the smallest island Member State in the EU and the penultimate non-interconnected to the European transmission system, has also recently been interconnected.
What are the benefits?
Regarding the benefits of interconnection, the example of Crete is indicative, where the maximum demand is around 0.8 GW, which corresponds to about 65% of the maximum demand of Cyprus.
As it has been proven, the double interconnection of Crete, from Attica and Peloponnese, will not only not burden consumers but, on the contrary, is expected to lead to significant savings in electricity bills.
It is reasonable to understand, it is pointed out in the note, that since the interconnection of Crete, an electricity system with a maximum demand of about 0.8 GW, a capacity of 1.2 GW and a total cost of about ,€1.5 billion. If it is economically viable and preferable compared to the autonomous development of its electricity system, then the interconnection of Cyprus, a larger electricity system with a maximum demand of about 1.25GW, with a capacity of 1 GW, is equally beneficial.
Cyprus is an energy hub
It is also noted that the electricity interconnection between Greece – Cyprus – Israel will enable Cyprus to develop into a major energy hub in the Mediterranean, thanks to green energy exports to Europe through the cross-border electricity interconnections promoted by ADMIE.
Accordingly, it will enable electricity exports to Israel, which will be supplied by both its domestic RES capacity and its natural gas deposits.
The interconnection of Cyprus is the only way to sustainably develop RES and achieve the high European targets while ensuring prices much lower than current levels. Otherwise, in the choice of autonomous development, a very large storage capacity will be required, skyrocketing the cost of RES production, significantly burdening Cypriot consumers.
ADMIE estimates that the interconnection will on the one hand boost the development of large RES capacity and reasonable storage size for the development of this necessary local production and on the other hand will not obsolete the natural gas installations developed in Cyprus that are expected to support the system transitionally, especially in periods of reduced RES demand.
Cost-benefit studies were carried out
The electricity interconnection between Greece – Cyprus – Israel is included in the Projects of Common Interest (PCIs), receiving a grant of € 657 million from the European Commission. In order for the European Commission to proceed with such high funding of a cross-border project, it has carried out detailed cost-benefit studies, which have proven the benefit for consumers and the economic viability of the project.
The fact that the interconnection between Crete and Attica is completed makes the electricity interconnection project between Greece and Cyprus even more beneficial for consumers since the studies were carried out, given that the interconnection with Crete now means for Cyprus interconnection with the European electricity system.
The electricity interconnection project between Greece – Cyprus – Israel is one of the largest electricity interconnection projects worldwide, pioneering the laying of cables at a depth of 3,000 meters and innovative technology of converter stations (High Voltage Direct Current).
The implementation of this project, which is distinguished for its high economic and geopolitical value, will lead to a drastic reduction of CO2 emissions, while at the same time the national networks of both Cyprus and Israel will acquire a green, reliable, two-way interconnection with Greece and the rest of Europe.
Two-day contacts in Cyprus
Today (April 9th) ADMIE's management will be in Cyprus, where it will hold a meeting with officials of the Ministry of Energy and the Israeli Regulatory Authority on the maturation of the Cyprus-Israel interconnection.
This will be followed by a trilateral conference between Greece – Cyprus – Israel, under the coordination of IPTO and in the presence of the Managers of the two states.
At the same time, a two-day technical meeting will be held in Cyprus between ADMIE, GSI and the Cyprus Transmission System Operator on 9 and 10 April. Technical contacts will take place within the framework of the working group and weekly teleconferences established by the two Operators for the common understanding of the technical capabilities of the Interconnection and the completion of the Final Implementation Design Study prepared by Siemens.
