Subsea surveys related to the Cyprus-Greece power interconnection project are progressing, according to ADMIE President and CEO Manos Manousakis, who added that by the end of the year, there will be developments regarding the investment segment of the €1.9 billion project.

Speaking at the 7th Athens Investment Forum, Manousakis stated that the project is advancing smoothly, with subsea surveys underway in the territorial waters of both countries. He added that investment-level developments are expected by the end of the year.

Regarding the Cyprus-Israel interconnection, Manousakis noted that a cost-benefit analysis has been commissioned and is expected to be ready within the first quarter of 2025.

On the regulatory issues that remain for the Cyprus-Greece interconnection, he said that it is only a matter of time before they are resolved, given that an interstate agreement is already in place. The Republic of Cyprus is expected to make an investment decision regarding its participation in the project by the end of November.