The construction of the electricity interconnector cable between Cyprus and Greece, Nexans, has faced renewed setbacks due to threats from the implementing body, IPTO, towards the members of the Cyprus Energy Regulatory Authority (CERA), Phileleftheros reports.
Despite marathon negotiations and a seemingly promising agreement, IPTO officials issued personal threats to CERA members, possibly jeopardising the project.
However, sources indicate that a preliminary agreement has been reached regarding the regulatory framework, with some modifications to address IPTO’s expenses and geopolitical risks.
The agreement, facilitated by the energy ministers of Cyprus and Greece, involves the Deputy Minister of the Presidency, Irene Piki, and President Christodoulides, as well as the Prime Minister of Greece.
It focuses on the regulatory framework and does not involve Cyprus’s participation in the share capital of the Great Sea Interconnector.
The decision on shareholding will be made later this year.
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