President Christodoulides is set to meet Jasim Husain Thabet, the CEO of UAE state-owned energy giant TAQA in New York on Monday to discuss the formation of a joint venture for the Great Sea Interconnector project.
The meeting follows Christodoulides’s visit to the UAE two weeks ago, where he held talks with the country’s leadership to bolster energy cooperation, particularly regarding the electrical interconnection between Cyprus and Crete.
In a recent interview with Greek broadcaster OPEN, Christodoulides revealed that advanced consultations were underway to establish a joint company with the UAE for participation in the electrical interconnection’s share capital.
This development builds on a Memorandum of Understanding signed last December between Cyprus’s Ministry of Energy, Greek power grid operator ADMIE, and TAQA to promote investments in the Cyprus-Crete electrical interconnection.
The Cypriot President is scheduled to meet French President Emmanuel Macron and Greek Prime Minister Kyriakos Mitsotakis on Tuesday.
The electrical interconnection project is expected to be on the agenda, with France reportedly showing interest. French company Nexans was awarded a 1.4 billion euro contract to construct the interconnector cable.
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