Agreement between Cyprus and Greece on the electricity interconnection project
September 20, 2024
The meeting between the Greek Prime Minister and the President of Cyprus focused on the electricity interconnection between Cyprus and Crete. The President confirmed Cyprus's commitment to participate in the equity of the Great Sea Interconnector with approximately 30%. The Regulatory Authority for Energy in Cyprus (RAEK) is expected to make a decision today regarding the project's financing. The approved changes will include the start of revenue allocation from consumers to cover project costs.