EuroAsia project schedule
The conception, development and realisation of EuroAsia Interconnector is a complex process. It involves, among other things, an inspiring vision, painstaking attention to detail, world-class expertise, the forging of effective partnerships, and careful consultation with stakeholders.
EuroAsia Interconnector Limited, as the official project promoter and developer, will finance the construction of the electricity interconnection between Israel, Cyprus, Crete and Attica with initial transmission capacity of 1,000 MW, with the financial cost of Stage 1 estimated at 3.5 billion euros.
The implementation dates as provided to the European Commission, for the commencement of Stage 1 of the electricity interconnection between Israel, Cyprus, Crete and Attica with total transmission capacity of 1,000 MW, are:
|Cete - Attica commissioning in June 2022|
|Cyprus - Crete commissioning in December 2023|
|Cyprus - Israel commissioning in December 2023|
The EuroAsia Interconnector will provide to the partner countries significant socio-economic benefits worth 10 billion euros which will derive from the decrease of electricity cost by using more efficient methods in power generation, i.e. natural gas, renewable energy sources, and from the reduced cost of replacing old power plants which will be avoided.