IPTO, as the project promoter of the Great Sea Interconnector (GSI), presented the cost-benefit analysis for the Cyprus–Israel section – the second branch of the Greece–Cyprus–Israel electrical interconnection – to the Regulatory Authorities of Cyprus (CERA) and Israel (PUA), in the presence of representatives from the Energy Ministries of both countries and the European Commission's Directorate-General for Energy.
The study, conducted by consultancy firm Exergia, in partnership with the National Technical University of Athens (NTUA) – which was also responsible for the corresponding study for the Crete–Cyprus section of the GSI – confirms the significant benefits of the project for the two countries it will connect, Cyprus and Israel.
By the end of July, IPTO will submit a complete dossier to the Regulatory Authorities of both countries, together with the official investment request, so that a joint decision can be issued on the CBCA (Cross-Border Cost Allocation), regarding the allocation of project costs between them and the project’s revenue assurance.
These procedures represent the first critical step in the project's maturity, in accordance with the EU TEN-E Regulation, aiming to establish the necessary regulatory framework to secure the project's revenue and allow the construction phase to commence.
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