TAQA aims to join Greece-Cyprus interconnector
UAE, Abu Dhabi: Abu Dhabi National Energy Company PJSC (TAQA) said it could become a shareholder in a project to develop a 900 km interconnector between Greece and Cyprus.
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UAE, Abu Dhabi: Abu Dhabi National Energy Company PJSC (TAQA) said it could become a shareholder in a project to develop a 900 km interconnector between Greece and Cyprus.
The utility signed a memorandum of understanding (MoU) at COP28 with Greece’s transmission system operator Independent Power Transmission Operation of Greece (IPTO) and the Cyprus government. Under the agreement, TAQA will explore joining them as shareholders in the €1.9 billion ($2.08 billion) project.
The planned interconnector aims to end Cyprus’ energy isolation, improve energy security in the Eastern Mediterranean and support the development and export of clean energy. Both Cyprus and Greece have high renewable energy potential, it was noted in the statement. The link is an EU Project of Common Interest, set to receive a €657 million grant from the Connecting Europe Facility.
IPTO president and chief executive Manos Manousakis said the project promoted by IPTO will now be called the Great Sea Interconnector. He added that its most mature segment, the interconnection between Greece and Cyprus, is entering the construction phase, starting with the subsea cable, which will be deployed by Nexans. Siemens AG has been selected as the preferred bidder for the two high-voltage direct current (HVDC) converter stations for the project.
Source: Renewables Now
#Independent Power Transmission Operation of Greece#interconnector#Nexans#Siemens AG#Taqa#UAE