Cyprus: launch of the electricity connection project with the EU

Cyprus inaugurated on Friday a project funded by the European Union (EU) for the construction of a submarine power cable linking the eastern Mediterranean island with Greece.

Share:

Subscribe for unlimited access to all the latest energy sector news.

Over 150 multisector articles and analyses every week.

For less than €2/week*

*For an annual commitment

*Engagement annuel à seulement 99 € (au lieu de 149 €), offre valable jusqu'au 30/07/2025 minuit.

The EU has approved a grant of 757 million euros to finance the construction of the cable in order to end the “energy isolation” of Cyprus, the only European country without gas or electricity connections to the mainland grid.

The island has been divided since the Turkish army invaded the north in 1974 in response to a coup by Greek Cypriot nationalists. The Cypriot government exercises its authority only on the southern part of the island,
Member of the EU since 2004.

The very expensive EuroAsia interconnector will connect the power grids of Cyprus to those of Israel and Greece through a high voltage direct current (HVDC-VSC) submarine transmission system.

The cable, which will run 1,208 kilometers buried at a depth of more than 3,000 meters, “will set a new world record,” according to the European Commission. The total cost of the project, which will have a capacity of 1,000 to 2,000 megawatts, is 1.57 billion euros, according to the Cypriot authorities. Speaking at the opening ceremony, the European Commissioner for Energy Kadri Simson said that the rise in energy prices caused by the Russian offensive in Ukraine in February highlights the importance of this project that allows Europe to diversify its sources and strengthen its energy security.

For his part, Cypriot President Nicos Anastasiades spoke of a “historic” day, because “we are well positioned to begin the construction” of the cable.

Construction of the EuroAsia interconnector is scheduled to begin later this year and will be completed in 2027.

According to Anastasiades, Cyprus could become a net energy exporter with capacities ranging from 120 gigawatt hours in 2027 to 1,000 in 2030 and exceeding 1,800 in 2033.

U.S. electricity consumption reached unprecedented levels in the last week of July, driven by a heatwave and the growth of industrial activity.
The New York Power Authority targets nearly 7GW of capacity with a plan featuring 20 renewable projects and 156 storage initiatives, marking a new phase for public investment in the State.
French Guiana plans to achieve a fully decarbonised power mix by 2027, driven by the construction of a biomass plant and expansion of renewable energy on its territory.
The progress of national targets for renewable energy remains marginal, with only a 2% increase since COP28, threatening the achievement of the tripling of capacity by 2030 and impacting energy security.
A Department of Energy report states that US actions on greenhouse gases would have a limited global impact, while highlighting a gap between perceptions and the economic realities of global warming.
Investments in renewable energy across the Middle East and North Africa are expected to reach USD59.9 bn by 2030, fuelled by national strategies, the rise of solar, green hydrogen, and new regional industrial projects.
Global electricity demand is projected to grow steadily through 2026, driven by industrial expansion, data centres, electric mobility and air conditioning, with increasing contributions from renewables, natural gas and nuclear power.
Kenya registers a historic record in electricity consumption, driven by industrial growth and a strong contribution from geothermal and hydropower plants operated by Kenya Electricity Generating Company PLC.
Final energy consumption in the European industrial sector dropped by 5% in 2023, reaching a level not seen in three decades, with renewables taking a growing role in certain key segments.
Réseau de transport d’électricité is planning a long-term modernisation of its infrastructure. A national public debate will begin on September 4 to address implementation methods, challenges and conditions.
The Spanish Parliament has rejected a package of reforms aimed at preventing another major power outage, plunging the national energy sector into uncertainty and revealing the fragility of the government's majority.
The U.S. government has supported Argentina’s request for a temporary suspension of an order to hand over its stake in YPF, a 16.1 billion USD judgment aimed at satisfying creditors.
The United States Environmental Protection Agency extends compliance deadlines for coal-fired power plant operators regarding groundwater monitoring and the closure of waste ponds.
Eskom aims to accelerate its energy transition through a new dedicated unit, despite a USD22.03bn debt and tariff uncertainties slowing investment.
Several major U.S. corporations announce investments totaling nearly USD 90 billion to strengthen energy infrastructure in Pennsylvania, aimed at powering data centers vital to the rapid growth of the artificial intelligence sector.
Nearly USD92bn will be invested by major American and international groups in new data centres and energy infrastructure, responding to the surge in electricity demand linked to the rise of artificial intelligence.
Nouakchott has endured lengthy power interruptions for several weeks, highlighting the financial and technical limits of the Mauritanian Electricity Company as Mauritania aims to widen access and green its mix by 2030.
Between 2015 and 2024, four multilateral climate funds committed nearly eight bn USD to clean energy, attracting private capital through concessional terms while Africa and Asia absorbed more than half of the volume.
The Global Energy Policies Hub shows that strategic reserves, gas obligations, cybersecurity and critical-mineral policies are expanding rapidly, lifting oil coverage to 98 % of world imports.
According to a report by Ember, the Chinese government’s appliance trade-in campaign could double residential air-conditioner efficiency gains in 2025 and trim up to USD943mn from household electricity spending this year.