Cyprus-Greece Agreement on Electrical Interconnection
September 12, 2024
Cyprus and Greece are seeking an agreement on electrical interconnection, with adjustments to the cost distribution. It is proposed that the costs for potential interruptions be split 50-50, while construction expenses will remain at 63-37 in favor of Cyprus. The Cypriot government is ready to approve funding of 25 million euros annually until 2029. However, there are still open questions regarding whether the funding will continue if the project is delayed.