Minister of Energy, Commerce, and Industry, Giorgos Papanastasiou, was scheduled to meet with the leadership of IPTO (Independent Power Transmission Operator) today at 10:00 AM to receive the complete cost-benefit analysis (CBA) for the Great Sea Interconnector (GSI) project.
GSI is an electricity interconnection project linking Cyprus, Greece, and Israel. According to CNA, the complete CBA study is a prerequisite for the Cypriot government’s final investment decision on joining the project, which would involve a €100 million investment.
An initial presentation of the study’s key findings by IPTO, conducted by Exergia in collaboration with the National Technical University of Athens, occurred in early June. This preliminary analysis indicated a potential 30% reduction in electricity bills for Cypriot consumers by 2030 if the GSI becomes operational.
Following today’s meeting, the Cypriot government will reportedly forward the complete CBA study for further evaluation and analysis by the University of Cyprus, the Cyprus Institute, and an independent consulting firm.
This additional assessment will likely inform the government’s final decision on GSI project participation.
(information from CNA)
