Filenews 27 September 2025
Probably one of the most relaxed teleconferences was yesterday's one organized by the General Directorate of Energy with the regulators of Cyprus and Greece and IPTO, the implementing body of the Cyprus-Greece electrical interconnection.
This time the discussion did not focus on the first tranche of €25 million that the Republic of Cyprus owes to IPTO, perhaps because after the recent approval of the disbursement of the amount by CERA, the ball has passed into the hands of the Cypriot Government.
What was made clear yesterday is that CERA has taken the two important decisions to grant an ownership license and a license to manage the electrical interconnection to the Great Sea Interconnector, which is currently 100% owned by IPTO. The two decisions of CERA will soon be published in the Official Gazette of the Republic and IPTO is now officially the owner and manager of the project, through GSI.
Another piece of information states that the CEO of IPTO, Manos Manousakis, officially informed the people of CERA that he has stopped - since the summer - payments to Nexans for the construction of the cable. Obviously, this action is linked to the non-payment of the instalment of €25 million from the Cypriot state. The delay in payment is in turn linked to the continuous postponements in the issuance of navtex by the Hellenic Republic for the conduct of maritime surveys in international waters between Crete and Cyprus.
