The US state fund DFC has expressed its interest in participating in the Greece-Cyprus-Israel Great Sea Interconnector project through a Letter of Intent sent to the management of the Independent Power Transmission Operator (IPTO).

According to an IPTO announcement, the DFC made this decision after conducting an economic and technical evaluation of the project. The DFC's participation could take the form of equity investment, loans, or a combination of both.

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In this context, a teleconference was held in recent days between executives of IPTO, DFC, and the Ministry of Environment and Energy, where the prospects and terms of participation in the project were discussed.

"For the final investment decision of the DFC, a key condition is the timely completion of the regulatory framework by the regulatory authorities of Greece and Cyprus," stated IPTO.

The Chairman and CEO of IPTO, Manos Manousakis, welcomed the formalization of DFC's interest in participating in the Great Sea Interconnector, stating that it represents a vote of confidence in the effort to implement the project, which will have multiple benefits for Cypriot and Greek consumers.

"I would like to warmly thank the leadership of the Ministry of Environment and Energy and the US Embassy, especially Ambassador George J. Tsunis, for their contribution to this development," he said.

The US International Development Finance Corporation (DFC) is the US government's development finance institution. It collaborates with the private sector to provide financing solutions in sectors such as energy, health, critical infrastructure, and technology.