Two separate interconnector projects on the divided island are targeting to connect bigger electricity grids on mainlands.
An interconnector project between Türkiye and North Cyprus and The EuroAsia Interconnector project subsea electricity cable linking South of Cyprus with the Greek and Israeli grids are two separate projects which are targeting to create energy efficiency in the island .
An agreement on the two-way electricity project to be created between Türkiye and North Cyprus has been signed yesterday.
The protocol was signed in Ankara by Prime Minister Ünal Üstel and Vice President of the Republic of Türkiye Cevdet Yılmaz.
A tete-a-tete meeting was held before the signing ceremony. The final preparations for the new Ercan Airport, which is planned to be opened on July 20, and the electricity interconnectivity project to be established between Türkiye and North Cyprus via cable were discussed during the meeting.
Meanwhile, The EuroAsia Interconnector project – a subsea electricity cable linking South of Cyprus with the Greek and Israeli grids – is back on track after strong speculation that it could be scrapped due to financing issues.
According to Philenews reported on Wednesday, all the finance has been secured to enter a final agreement with the Norwegian company Nexans who will build the cables.
Nexans and European Commission had warned that they would turn their attention to other projects since the EuroAsia Interconnector’s implementation process was unacceptably slow.
According to Philenews the project is now believed to be fully completed by end of December 2029.
The EU had warned Cyprus it would revoke the 2016 decision of the European Connecting Europe Facility (CEF) to fund the project with €657 million if prompt action was not taken.
The EuroAsia Interconnector will connect the national electricity grids of Israel, Cyprus and Greece through a 1,208 km subsea HVDC cable, considered to be the longest in the world.
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