IPTO files investment request for Cyprus-Israel power link

Economy electricityenergyGreat Sea InterconnectorTop News IPTO files investment request for Cyprus-Israel power link Ipto Admhe Admie Great Sea Interconnector Power Link Israel Greece Cyprus Relevant News IPTO files investment request for Cyprus-Israel power link 13 August 2026 Paphos marina contract expected January 2027, sources say 13 August 2026 Customs flags smuggling route from occupied areas to Israel 13 August 2026 Newsroom 13 August 2026 FacebookXWhatsAppEmailPrintViber IPTO has filed an investment request with the regulatory authorities of Cyprus and Israel for the Cyprus-Israel electricity interconnection, as the body delivering the Great Sea Interconnector. The company submitted the request under the European TEN-E Regulation, it said, describing the filing as a further step in advancing the link between the two countries. The submission follows completion of the required cost-benefit analysis and a proposal for cross-border cost allocation, and is the necessary next step under the European framework, according to IPTO. What happens next Filing the investment request is a precondition for regulators in Cyprus and Israel to begin their assessment, IPTO said, leading to a joint decision on how the cost is split between the two countries. That cost will be recovered through the project’s regulated revenues. Once the two countries agree, a final investment decision follows, which will start the financing process, the company said. IPTO said it aims to attract additional investors for the Cyprus-Israel link as it did for the first leg between Greece and Cyprus, where Meridiam entered the investment scheme. The filing comes a week after IPTO and Meridiam signed an agreement at the Maximos Mansion bringing the French investment group in as majority shareholder in the Great Sea Interconnector company, and follows a phone call between Environment and Energy Minister Stavros Papastavrou and his Israeli counterpart Eli Cohen on advancing the interconnection, according to IPTO. Kofinou converter station on the Cyprus side The cable system will connect on the Cyprus side at a converter station to be developed at Kofinou, with the corresponding station on the Israeli side built in the Hadera area, IPTO said. The Cyprus-Israel section will run about 324 km offshore at laying depths of between 2,200 and 2,400 metres, according to the company. The link will carry electricity in both directions, allowing the direction of power flow to be reversed. The Great Sea Interconnector is an EU Project of Common Interest and will have a nominal transfer capacity of 1,000 MW, running on a bipolar 500 kV high voltage direct current system, IPTO said. Studies and consultation IPTO said the studies involved extensive consultation and exchange of data with the relevant bodies in both countries, including the energy ministries, TSOC and Israel’s system operator NOGA, so as to take account of the most recent assumptions on how the electricity systems, demand, renewables penetration and required infrastructure will develop. The results confirm the project is economically viable in every case analysed, the company said, and found it makes a significant contribution to security of supply, renewables penetration, and further integration of eastern Mediterranean electricity markets with the European transmission system. Since taking on the role of project promoter for the project as a whole, IPTO said, it has worked continuously with the relevant authorities, transmission system operators and other bodies involved in the countries being connected, with the aim of advancing the technical, regulatory and financing steps required. (information from amna.gr) Read more: Cyprus to pay interconnector dues once Greece issues survey notice Subscribe to our Newsletter Latest News Paphos marina contract expected January 2027, sources say Customs flags smuggling route from occupied areas to Israel Carmakers must fund scrapping under new EU rules Hotel cleaner arrested over jewellery theft in Paphos guest room Erhürman says ground forming for Cyprus talks, but no 5+1 meeting without Turkey Apartment permits jump 86% as construction speeds up Remedica recall leaves seven medicines with no available alternative Follow en.philenews on Google News and be the first to know all the news about Cyprus and the world.