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EuroAsia Interconnector welcomes EC Enhanced Surveillance Report for Greece with “economic benefits” of Crete-Attica PCI 3.10.3

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Nicosia, June 12, 2019 – EuroAsia Interconnector, the Project Promoter of the European Project of Common Interest (PCI 3.10), welcomes the European Commission’s Enhanced Surveillance Report for Greece (June 2019) which acknowledges that the Israel, Cyprus, Crete and Attica interconnection remains on the official PCI list and as such is eligible to receive EU grants from the ‘Connecting Europe Facility’.

The Report shows the European Commission’s full backing to PCI 3.10 EuroAsia Interconnector in its entirety, noting that despite the uncertainty created by the new ‘national’ competitive project by ADMIE, the “overall project” EuroAsia Interconnector “remains on the list of Projects of Common Interest.”

The Commission also suggests that should the Greek authorities “support the PCI status of the project beyond 2019”, then the project, and specifically the PCI 3.10.3 Crete-Attica interconnector would “take full advantage” of the economic benefits, such as eligibility to receive grants from CEF worth € 300 mln.

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Enhanced Surveillance Report for Greece

Enhanced Surveillance Report for Greece

Enhanced Surveillance Report for Greece

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The EuroAsia Interconnector (PCI 3.10) remains committed to the timely implementation of the project, as submitted to the European Commission, with the Crete-Attica interconnector (PCI 3.10.3) commissioned in June 2022 and the Crete-Cyprus Interconnector (PCI 3.10.2) in December 2023, ending the energy isolation of Crete, and Cyprus, the last EU member state not interconnected to the European electricity grid.

The EuroAsia Interconnector (PCI 3.10) has been included in the EU’s official 1st PCI List (October 2013), 2nd PCI List (November 2015) and 3rd PCI List (November 2017). The 4th PCI List is currently under review and is expected to be published in November 2019.

The European Commission’s Enhanced Surveillance Report for Greece (June 2019) specific reference to the EuroAsia Interconnector:

“Whilst the progress made with the implementation of Crete’s interconnection to the Peloponnese is positive news, the uncertainty about the status of the Attica-Crete interconnection continued. The overall project, linking Attica, Crete, Cyprus and Israel, remains on the list of Projects of Common Interest (PCI) for now; thus being eligible for EU funding (approximately EUR 300 million to be allocated to this project), until the formal adoption of the 4th PCI list. However, the electricity transmission operator (ADMIE) decided to start implementing the Attica-Crete segment as a national competitive project and Greece did not support the inclusion of the project in the 4th PCI list, therefore rendering it ineligible for grants under the Connecting Europe Facility. Continued support by the authorities of the PCI status of the project beyond 2019 could allow taking full advantage of the benefits deriving from the TEN-E Regulation, such as eligibility for applying for grants under the Connecting Europe Facility.”

Read the entire report (with the specific mention on page 58): https://ec.europa.eu/info/sites/info/files/economy-finance/ip103_en.pdf

The EuroAsia Interconnector as a Project of Common Interest: https://www.euroasia-interconnector.com/at-glance/the-big-picture/euroasia-eu-status/

Download Announcement English (pdf)

Download Announcement Greek (pdf)

Media enquiries: [email protected]

More about EuroAsia: www.euroasia-interconnector.com | www.twitter.com/EuroAsia_HVDC