Greece and Cyprus to Begin Construction of Power Grid Interconnector

The 1.9 billion-euro project, expected to be completed by 2029, will eventually extend to Israel's power grid.

Construction of a 1.9 billion-euro ($2.05 billion) section of an electricity cable that will connect the power grids of Greece and Cyprus is slated to begin in the new year.
An eventual extension of the renamed Great Sea Interconnector is planned to connect Israel’s power grid as well.
Contracts are expected to be signed with technology company Siemens next year for the construction of converter stations on the Greek island of Crete and in Cyprus that are key to the flow of electricity through the cable.
The Crete-Cyprus section of the Mediterranean Sea cable should be ready by 2029 at the latest, according to Cyprus Energy Minister George Papanastasiou.
The Cyprus government is expected to make a decision by the end of January on funding the project with a 100 million-euro capital investment ($108 million).