European Commission approves €100 million funding for EuroAsia Interconnector

The Council of the European Union has approved the allocation of €100 million euros to the “EuroAsia Interconnector” electricity interconnector. It forms part of the Recovery and Resilience Plan (RRP) for Cyprus to end the energy isolation of Cyprus, the last non-interconnected EU member state.

The 2000 MW project, a European Union Project of Common Interest, aims to connect Cyprus, Crete, and Attica in Greece, and Israel with the rest of Europe.

It is expected to ensure the security of supply while creating an alternative electricity corridor to connect the East Mediterranean to Europe. The developers behind the EuroAsia Interconnector are committed to commissioning the first phase by the end of 2025.

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