The EAC Board of Directors approved €45 million worth of projects, including the installation of new transmission substations, the upgrading of existing ones, and the installation of large transformers, announced EAC President Georgios Petrou. He also announced a new strategic plan for EAC.

During its four-hour session, the EAC Board awarded two contracts, worth €25 million and €20 million each. With the approval of these contracts, the Board has awarded a total of €76 million in new projects for the Transmission Department this year.

Mr. Petrou stated that the key projects included in the contracts involve the installation of a substation at Limassol port and the strengthening of the networks.

“Our top priority is to enhance the networks and build new substations to integrate Renewable Energy Sources into the grid,” he emphasized.

Regarding the Limassol port project, Mr. Petrou explained that it involves the installation of a substation, as currently there is only one electricity meter for all companies at the port, which are billed separately.

Additionally, Mr. Petrou announced the Board's decision to proceed with a new strategy for EAC's future, which will be formulated soon.

He also mentioned the Board’s visits to Limassol on Tuesday morning to meet with EAC staff and discuss their concerns.