Filenews 1 February 2025 - by Charalambos Zakos
Apart from the Great Sea Interconnector, the Saudi Greek Interconnector also returned to the forefront, which under certain conditions could also pass through Cyprus.
In particular, the Greek Minister of Energy, Theodoros Skylakakis, recently met with his Saudi counterpart for the creation of the Saudi Greek Interconnection, which will be a new energy corridor for the transfer of clean energy from the Middle East to Europe and vice versa. Visit that came after ADMIE's recent meeting with Saudi Arabia's National Grid.
It should be noted that Saudi Greek Interconnection was established in February 2024 as a special purpose subsidiary of ADMIE and National Grid (Saudi Electricity Transmission Operator), in which they participate equally with 50% each.
According to the information, the initial feasibility studies of the project, which is expected to be 2,000 km long, have recently begun, while the same information leaves open the possibility of developments with Cyprus and its participation in the cable.
Based on current plans, the cable will start from Saudi Arabia, pass through Egypt and then to Greece, in order to be interconnected with the Green Aegean Interconnector, ending in Germany. However, at the same time, the possibility remains open to choose a different route that will also affect Cyprus.
More specifically, according to Greek reports, the thought remains on the table – and which will depend on future developments – for the Saudi Greek Interconnection to follow a different route, namely Saudi Arabia, Jordan, Israel, Greece, but with a possible stopover in Cyprus.
A prospect that is of particular interest to the Republic of Cyprus, since last September the President of the Republic of Cyprus himself, Nikos Christodoulides, had a meeting for this purpose. In particular, on the sidelines of the UN Summit, the President had met with Saudi Foreign Minister Faisal bin Farhan Al Saud, with whom he discussed, among other issues, the possibility of an electricity interconnection between Saudi Arabia and the Republic of Cyprus.
It is no secret that the Republic of Cyprus seeks to deepen its relations with the Sunni kingdom, as it sees great prospects for cooperation, both politically and economically.
The Board of Directors of Saudi Greek Interconnection
ADMIE and National Grid signed the Shareholders Agreement (SHA) on September 27, 2023 in Athens.
As stipulated in the articles of association of "Saudi Greek Interconnection", ADMIE and National Grid will hold a share of 50% each.
The composition of the Board of Directors of "Saudi Greek Interconnection" is as follows:
1. Waleed Al-Saadi, President Board of Directors
2. Manos Manousakis, CEO
3. Abulaziz Almuhaiza, Chief Financial Officer – Member of the Board of Directors
4. Khalid Alshammari, Board Member
5. Prokopis Mavronas, Member of the BoD
6. Panagiotis Michalopoulos, Member of the BoD
