€ 1.5 bln EU flagship ‘Project of Common Interest’ aims to end energy isolation of Cyprus, Greece and Israel
“Italy supports and considers as a priority building a resilient Energy Union, based on the dimensions of security and solidarity, a fully integrated internal energy market, energy efficiency, de-carbonisation, research, innovation and competitiveness. It is essential to strengthen cooperation not only between member states, but also with neighbouring countries that are traditional partners in energy relations,” said Ambassador Cerboni, and added:
“As the Ambassador of Italy, I have an additional reason of satisfaction: EuroAsia InterConnector has awarded the studies for the technical design, the reconnaissance study for the optimum route and an environmental impact study, to two Italian companies, CESI S.p.A. (a company from Milano with more than 50 years of experience in testing and consulting services for the electrical industry) and GAS S.r.l, from Bologna province, a company of solid experience worldwide in geophysical, geotechnical and environmental surveys.”
Speaking from the pier where the vessel is docked, Ambassador Fotopoulos said: “The Odin Finder (right next to us) will not just determine the preferable route for an electricity cable. It is actually going to determine the preferable route for connecting the peoples of Greece, Cyprus and Israel. It would be fair to say then that we are all embarking on a historic expedition.”
Work on the initial 329-kilometre cable link between Israel and Cyprus is expected to begin in 2017 and be completed in 2019. The second phase will connect the island of Crete to Attica in mainland Greece in 2020 and the third and final phase will connect the cable from Cyprus to Crete with a view of full implementation of the “electricity highway” by 2022.
The expected cost of step one and step two of the project is 1.5 bln euros and will be undertaken in full by EuroAsia Interconnector.