Electric Interconnection Project between Cyprus and Crete Moves Forward
September 18, 2024
The Cabinet in Cyprus has decided to move forward with the electric interconnection project between Cyprus and Crete, as all legal obstacles have been overcome. The Regulatory Authority for Energy in Cyprus will approve the necessary changes to expedite the process. The company Nexans is expected to receive the final order for the project valued at 1.4 billion euros. Authorities have also agreed to reduce costs for consumers in Cyprus if the final expenses exceed 1.94 billion euros.