Powering nations,
Co-funded by
the European Union
Transmission Capacity
1.000
MW
Interconnection Length
1.208
km
Voltage
500
kV
Maximum Depth
3.000
m
Estimated Budget
€1,9
bn
Identity
The electrical interconnection between Greece, Cyprus and Israel is one of the largest submarine power transmission projects in the world. The Great Sea Interconnector will provide a green, reliable, and bidirectional subsea connection between Greece Cyprus at first and Israel at a later stage.. The project will allow for a more efficient use of renewable energy across the three countries, leading to a significant reduction in CO₂ emissions. At the same time, it will offer an alternative energy supply route for Europe. The part under construction between Cyprus and Greece (Crete) spans 898 km and has received €657 million in funding from the Connecting Europe Facility. The cable works have been awarded to Nexans (France), while Siemens (Germany) has been selected as the preferred contractor for constructing the converter stations.
Benefits
The Great Sea Interconnector will boost the energy security of Cyprus and significantly reduce electricity bills for consumers, yielding substantial economic and social benefits.
It will further pave the way for Cyprus to become a major energy hub in the Eastern Mediterranean, through the export of clean electricity generated from its domestic RES capacity to Europe and Israel.
The social benefits for Cyprus from the interconnection, including lower electricity bills, are estimated at €8 billion—an amount many times over the construction cost of the project.
Through the project Israel, also non-interconnected to any of its neighbors, will bolster its security of supply, and accelerate the integration of renewable energy into its energy mix.
Progress
This flagship project for a new “electric highway” in the Eastern Mediterranean was first envisioned in 2012 by the Cypriot company EuroAsia Interconnector Ltd., which was its original implementing entity.
Between 2012 and 2022, the company matured the project by conducting studies, obtaining permits and carrying out the necessary tender procedures to select contractors. IPTO joined the project as technical consultant in 2021 and played a key role in securing €657 million of EU funds as grant for the project.
In October 2023, EuroAsia Interconnector Ltd and IPTO announced their agreement to designate IPTO as the Implementing Entity and Project Promoter. The agreement for the transfer of the EuroAsia Interconnector assets to IPTO in December 2023 officially signalled the beginning of a new chapter for the project.
Timeline
March 2012
Feasibility studies for the Greece–Cyprus–Israel electrical interconnection signed by EuroAsia Interconnector
March 2021
Memorandum of Understanding (MoU) signed between Greece, Cyprus and Israel for the EuroAsia Interconnector
June 2021
IPTO contributes to the project as a technical consultant, further maturing the project and securing €657 million in funding from the Connecting Europe Facility
June 2023
IPTO submits a Letter of Intent to EuroAsia Interconnector to participate in the company's equity
July 2023
Contract signed with Nexans for the construction of the 525 kV DC cable connecting Greece and Cyprus
October 2023
IPTO is designated the new Implementing entity of the European Project of Common Interest 2.6 for the electricity interconnection of Greece - Cyprus - Israel
November 2023
EuroAsia Interconnector is renamed to Great Sea Interconnector
November 2023
IPTO establishes GREAT SEA INTERCONNECTOR Single Member S.A. to undertake the construction and financing of the electrical interconnection
December 2023
IPTO instructs Nexans to commence construction of the cable works
June 2024
Seabed surveys are launched for mapping the optimal submarine cable route between Greece and Cyprus
September 2024
The governments of Greece and Cyprus sign a framework of understanding to ensure the project’s uninterrupted implementation