Connection

popular articles

ACP100, China’s first modular reactor for sustainable nuclear energy
EDF inaugurates CEME 1, Chile’s largest solar power plant
Verdagy selects Black & Veatch for design study of its clean hydrogen project in Texas
France: Level 1 fault detected at Cattenom power plant
Dangote Refinery increases diesel exports to West Africa

TAQA and Cyprus on the road to a New Energy Era in the Mediterranean

TAQA signs a Memorandum of Understanding with Cyprus and Greece, marking a strategic turning point in energy interconnection and the green transition in the Eastern Mediterranean.
  • [favorite_button]

Please share:

Abu Dhabi National Energy Company PJSC (TAQA), in collaboration with the Cyprus Ministry of Energy, Trade and Industry and the Independent Power Transmission Operator of Greece (IPTO), has signed a memorandum of understanding to become one of the shareholders in a 900 km high-voltage direct current (HVDC) electricity interconnection project between Greece and Cyprus. The project, worth 1.9 billion euros, aims to end Cyprus’s energy isolation and enhance energy security in the region.

A strong commitment from stakeholders

The signing ceremony, which took place during the 28th Conference of the Parties (COP28) in Dubai, was attended by leading figures including the Cypriot Minister of Energy, Mr. George Papanastasiou, the President and CEO of IPTO, Mr. Manos Manousakis, and the CEO of TAQA, Mr. Jasim Husain Thabet. This initiative marks a milestone in energy cooperation between Cyprus, Greece and the United Arab Emirates.
The interconnection project aims to harness the renewable energy potential of Cyprus and Greece, two countries with strong solar and wind energy potential. It will contribute to the green transition and the export of clean energy to the European Union, while strengthening energy security in the Eastern Mediterranean region.

Technical Advances and Developments

The project is at an advanced stage, with feasibility studies completed and contracts for two major engineering, procurement and construction (EPC) components already booked. In July 2023, NEXANS was awarded a €1.43 billion contract for the HVDC cables, and Siemens AG was named preferred bidder for the construction of the two VSC HVDC converter stations.

Strategy and Long-Term Vision

IPTO is implementing a €5 billion development program between now and the end of the decade, including island interconnections in Greece and cross-border interconnections essential to the energy transition. TAQA, meanwhile, is continuing its international expansion in transmission and distribution, with this HVDC project as its third major initiative outside the United Arab Emirates announced this year.

This partnership between TAQA, Cyprus and Greece symbolizes a significant step forward in energy connectivity and ecological transition in the Eastern Mediterranean, paving the way for a safer, more sustainable energy future.

Register free of charge for uninterrupted access.

Publicite

Latest news

Trump aims for $1 trillion investment pact with Riyadh despite tensions
The United Kingdom approves regulatory extension of seven offshore wind farms
Fossil methane emissions exceed 120 million tonnes in 2024
EDP reports €428mn quarterly net profit driven by strategic positioning
Aker ASA restructures its assets with two mergers and a $57.9mn acquisition

Recently published in

EDP reports €428mn quarterly net profit driven by strategic positioning

Energias de Portugal saw its profit rise by 21% in the first quarter, supported by expanded renewable capacity and favourable electricity market prices.
Aker ASA restructures its assets with two mergers and a $57.9mn acquisition
Aker ASA merges Aker Horizons and acquires a stake in SLB Capturi, consolidating its portfolio while preparing for a significant dividend distribution.
en_1140290960540-4
Aker ASA restructures its assets with two mergers and a $57.9mn acquisition
Aker ASA merges Aker Horizons and acquires a stake in SLB Capturi, consolidating its portfolio while preparing for a significant dividend distribution.
en_1140290960540-4
Coal India secures 4,500 MW deal with AM Green to diversify operations
Coal India will supply 4,500 MW of renewable energy to AM Green under a memorandum of understanding to power its future green ammonia facilities nationwide.
en_1140290952540-5
Coal India secures 4,500 MW deal with AM Green to diversify operations
Coal India will supply 4,500 MW of renewable energy to AM Green under a memorandum of understanding to power its future green ammonia facilities nationwide.
en_1140290952540-5
Siemens Energy raises annual outlook after 52% surge in orders
Driven by strong operational execution and robust demand across key segments, Siemens Energy reports double-digit revenue growth and upgrades its outlook for fiscal year 2025.
en_1140290960540-3
Siemens Energy raises annual outlook after 52% surge in orders
Driven by strong operational execution and robust demand across key segments, Siemens Energy reports double-digit revenue growth and upgrades its outlook for fiscal year 2025.
en_1140290960540-3

Enel posts €2bn net profit rise despite falling electricity prices

Italian group Enel exceeded analysts’ forecasts with €22bn ($23.66bn) in revenue in Q1 2025, driven by international operations.
RWE completes 999 MW in energy projects across the US and expands presence
German group RWE has commissioned six new energy projects in the US, reaching a combined capacity of 999 MW across wind, solar and battery storage technologies.
imgonline-com-ua-Resize-IgeO7EahX3GZ8
RWE completes 999 MW in energy projects across the US and expands presence
German group RWE has commissioned six new energy projects in the US, reaching a combined capacity of 999 MW across wind, solar and battery storage technologies.
imgonline-com-ua-Resize-IgeO7EahX3GZ8
Veolia takes full control of WTS in a $1.75 billion deal
Veolia acquires full ownership of Water Technologies and Solutions by purchasing the 30% stake held by CDPQ, further consolidating its growth strategy focused on industrial water technologies.
en_1140290946540-3
Veolia takes full control of WTS in a $1.75 billion deal
Veolia acquires full ownership of Water Technologies and Solutions by purchasing the 30% stake held by CDPQ, further consolidating its growth strategy focused on industrial water technologies.
en_1140290946540-3
Legrand posts 12.3% increase driven by data centre demand
Legrand reaffirms its annual targets after strong first-quarter growth driven by the expansion of data centres and solid commercial performance in the United States.
Le siege de l'entreprise Legrand a Limoges (87)
Legrand posts 12.3% increase driven by data centre demand
Legrand reaffirms its annual targets after strong first-quarter growth driven by the expansion of data centres and solid commercial performance in the United States.
Le siege de l'entreprise Legrand a Limoges (87)

Aker BP reaches $3.2bn in Q1 2025 revenue and confirms growth strategy

Oil company Aker BP maintained stable production and strengthened its cash position in Q1 2025 while advancing key projects and new discoveries in the Norwegian Sea.
Exterra raises CA$20mn to industrialise mining residue transformation in Québec
Québec-based Exterra Solutions Carbone closes a CA$20mn Series A round to build the world’s largest asbestos residue treatment plant and expand its technologies internationally.
en_1140290953540-2
Exterra raises CA$20mn to industrialise mining residue transformation in Québec
Québec-based Exterra Solutions Carbone closes a CA$20mn Series A round to build the world’s largest asbestos residue treatment plant and expand its technologies internationally.
en_1140290953540-2
Marathon Petroleum posts $74mn net loss in Q1 2025
Marathon Petroleum reported a net loss in Q1 2025 due to a major maintenance programme, while its midstream unit supported results with an 8% rise in adjusted EBITDA.
en_1140290961540-2
Marathon Petroleum posts $74mn net loss in Q1 2025
Marathon Petroleum reported a net loss in Q1 2025 due to a major maintenance programme, while its midstream unit supported results with an 8% rise in adjusted EBITDA.
en_1140290961540-2
Euronext launches three indices to strengthen defence and energy financing
Stock exchange operator Euronext unveils thematic indices to channel capital into Europe's strategic energy, defence and aerospace sectors.
en_1140290956540-2
Euronext launches three indices to strengthen defence and energy financing
Stock exchange operator Euronext unveils thematic indices to channel capital into Europe's strategic energy, defence and aerospace sectors.
en_1140290956540-2

Sunoco acquires Parkland for $9.1bn and creates new listed entity SUNCorp

US distributor Sunoco will acquire Canada's Parkland for $9.1bn, including debt, in a mixed transaction and form a separate listed entity, SUNCorp, whose shares will be treated as corporate stock for tax purposes.
Shell appoints Colette Hirstius as head of US operations
Shell announced the appointment of Colette Hirstius as President of Shell USA starting August 1, succeeding Gretchen Watkins after seven years in the role.
en_1140290962540
Shell appoints Colette Hirstius as head of US operations
Shell announced the appointment of Colette Hirstius as President of Shell USA starting August 1, succeeding Gretchen Watkins after seven years in the role.
en_1140290962540
ADNOC Gas exceeds expectations with $1.27bn net profit in first quarter
Emirati producer ADNOC Gas recorded a 7% increase in net profit in Q1 2025, driven by sustained domestic demand and efficient operational management.
en_1140290947540
ADNOC Gas exceeds expectations with $1.27bn net profit in first quarter
Emirati producer ADNOC Gas recorded a 7% increase in net profit in Q1 2025, driven by sustained domestic demand and efficient operational management.
en_1140290947540
ExxonMobil reports 6% drop in quarterly profit despite increased synergies
Falling refining margins and weaker oil prices weighed on ExxonMobil’s Q1 results, while the group now expects $3bn in annual synergies from its acquisition of Pioneer.
en_1140290963540
ExxonMobil reports 6% drop in quarterly profit despite increased synergies
Falling refining margins and weaker oil prices weighed on ExxonMobil’s Q1 results, while the group now expects $3bn in annual synergies from its acquisition of Pioneer.
en_1140290963540

Innergex shareholders approve 99.86% vote for full acquisition by CDPQ

Innergex shareholders validated the company’s full acquisition by Caisse de dépôt et placement du Québec for a total amount close to $1.8bn, pending final judicial and regulatory approvals.
Chevron sees net profit drop 36% in Q1 2025
Chevron reports a sharp decline in quarterly results, impacted by weak refining margins, stable production and exceptional charges in the United States and the United Kingdom.
en_1140290969540-2
Chevron sees net profit drop 36% in Q1 2025
Chevron reports a sharp decline in quarterly results, impacted by weak refining margins, stable production and exceptional charges in the United States and the United Kingdom.
en_1140290969540-2
Shell posts net profit of $4.8bn in Q1 2025 despite falling oil prices
Shell plc recorded a net profit of $4.8bn in the first quarter of 2025, down 35%, but above analyst expectations, supported by solid operational performance and a new share buyback programme.
en_1140290968540-2
Shell posts net profit of $4.8bn in Q1 2025 despite falling oil prices
Shell plc recorded a net profit of $4.8bn in the first quarter of 2025, down 35%, but above analyst expectations, supported by solid operational performance and a new share buyback programme.
en_1140290968540-2
TC Energy invests CA$2.4bn in nuclear and natural gas
TC Energy is committing CA$2.4bn to two major projects in North America, targeting rising energy demand and the long-term value of regulated assets.
en_1140290965540
TC Energy invests CA$2.4bn in nuclear and natural gas
TC Energy is committing CA$2.4bn to two major projects in North America, targeting rising energy demand and the long-term value of regulated assets.
en_1140290965540

Prospera Energy increases revenue by 38% and strengthens financial positioning

Prospera Energy closed fiscal year 2024 with a notable increase in revenue and a strategic reorganisation of its assets, while reinforcing its performance on the financial market.
Voltalia records 15% increase in production despite price pressure
Voltalia’s revenue rose by 2% in the first quarter of 2025, driven by third-party services, while energy production reached 1.1 terawatt-hours due to improved resources in Brazil.
en_1140290982540
Voltalia records 15% increase in production despite price pressure
Voltalia’s revenue rose by 2% in the first quarter of 2025, driven by third-party services, while energy production reached 1.1 terawatt-hours due to improved resources in Brazil.
en_1140290982540
Brookfield Infrastructure secures $1.6bn through targeted asset sales in 2025
Brookfield Infrastructure raised $1.6bn in the first quarter of 2025 by completing multiple asset sales while reporting a 5% increase in funds from operations.
en_1140290979540
Brookfield Infrastructure secures $1.6bn through targeted asset sales in 2025
Brookfield Infrastructure raised $1.6bn in the first quarter of 2025 by completing multiple asset sales while reporting a 5% increase in funds from operations.
en_1140290979540
Maxeon restructures operations after 55% annual revenue drop
Facing a U.S. import ban and a sharp sales decline, Maxeon Solar Technologies is now focusing its efforts on the American market.
en_1140290981540
Maxeon restructures operations after 55% annual revenue drop
Facing a U.S. import ban and a sharp sales decline, Maxeon Solar Technologies is now focusing its efforts on the American market.
en_1140290981540

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS