The Republic of Cyprus is entitled to request from the implementing entity – Greece’s Independent Power Transmission Operator (ADMIE) – an updated report on the cost-benefit analysis regarding the electricity interconnection between Cyprus and Greece as well as the updated business model, Cypriot Minister of Energy, Commerce and Industry George Papanastasiou has said.
Speaking from Tokyo on Friday, the minister said that the sooner these studies are submitted by ADMIE, the sooner the Cypriot government will take the final investment decision for its entry into the project’s equity structure with 100 million euros.
He emphasized that Nicosia is not keen for the project to be carried out for the sake of the project itself, but has the Cypriot consumer as its primary concern. Cyprus’ cabinet has taken the decision in principle to participate in the project with €100 million, but wants an update of the cost-benefit analysis before taking the final investment decision.
Papanstasiou stressed that the old study was carried out in 2017 by the previous implementing body (EuroAsia) and things have since changed, while the business plan was drawn up in 2017 with a slight update in 2023, as he said.(ekathimerini)
