Plans for a new electrical transmission project to bring electricity from Egypt and Israel to Greece are gaining momentum.. This comes at a time when Europe is seeking to reduce its dependence on Russian energy..
From the outbreak of the conflict between Russia and Ukraine at the end of February, The EU has intensified its sanctions against Russia. The EU has recently announced that it will prohibit Russian coal imports from the 10 of august 2022.
At the same time, Russian oil imports have been reduced considerably. Imports are expected to be reduced in almost a 90% later this year.
Russia, for his part, has countered the EU through the energy of natural gas. Russia demands that gas purchases are liquidated in rubles. It has also reduced the amount of gas it delivers to Europe.
This has made some European countries run the risk of interruptions in the supply of Russian gas imports.
In this context, The energy connections of Egypt and Israel with Europe through Cyprus play an important role for the energy security of Europe.
One of the projects of Transmission cables is planned to transport only green energy. This will help the EU advance in their energy plan of 210.000 million euros with a core of renewable energies.
Manos Manousakis, General Director of the Greek Network Operator Admi, declared in an interview: “Connect electricity to Europe from other regions will involve an opportunity to reduce Russia's energy dependence. If Europe wants to bet on green energy, cannot ignore the enormous energy potential of North Africa and the Middle East”.
The cable project to connect with Egypt currently has the support of the local government and the Greek authorities. And now it requires EU financing.
His propeller, Promoter of the Greek Group Project Copelouzos, has submitted a request. Expects the cables to be included in the EU list of the so -called common interest projects.
The company estimates an investment of some 3.500 millions of euros. Greek banks and the European Investment Bank have already expressed their willingness to participate.
The ADMIE and the Egyptian Electricity Transmission Company are collaborating in the design of a direct electric route to continental Greece.
Besides, Admie and the Italian Terna company are studying the viability of a second Electric connection Between both countries. It has also begun to study a new electrical connection with Albania and an extension of the existing electricity line with Macedonia del Norte.
The cable project 1.208 Kilometers will serve to build a Euroasian interconnector between Israel, Cyprus and Greece. Can supply electricity produced with the Gas de Chipre and Israel reserves, as well as with renewable energy sources.
The transmission project was first planned in 2008. But it was delayed due to the change of government in Egypt. The first phase of the project will cost some 2.500 million euros and will have a total transmission capacity of 1.000 megawatts.
Se duplicará tras la siguiente fase. Está previsto que la construcción finalice a finales de 2025 y que la puesta en marcha se produzca en el primer semestre de 2026.
La UE acordó en enero aportar 657 millones de euros para el tramo que une Chipre con la isla griega de Creta. Esta cantidad se suma a los 100 millones de euros ya asignados por el Fondo Renacimiento de la UE. Chipre es actualmente el único Estado miembro de la UE que no está conectado a la red europea.