ADMIE enters partnership with EuroAsia Connector
Greece’s Independent Power Transmission Operator (ADMIE) will hold a strategic 25% stake in the share capital of the EuroAsia Connector, the company managing the project for the electric interconnection of Greece, Cyprus and Israel and the energy ministries of Greece and Cyprus announced on Thursday.
“The entry of ADMIE into the emblematic project of the electric interconnection of Cyprus and Israel with the European electric grid through Greece guarantees the technical and funding adequacy of the project and establishes the foundations for its timely completion by 2027,” a joint ministries statement said.
ADMIE has been involved in the project as technical consultant since 2021, and contributed in key ways to the plan’s maturity and in securing 657 million euros in additional funding through the EU’s Connecting Europe Facility mechanism.
The interconnector is 1,208 kilometers long.
The power cables will be laid in sea regions up of to 3,000 meters deep, making the interconnector the longest undersea electric link in the world.
It will have a capacity of 2,000 megawatts, and will signal the end of Cyprus’ electricity isolation.
