NICOSIA, Cyprus (AP) – Cyprus and neighboring Israel are working towards establishing a vital electricity link via an undersea cable, aiming to eliminate their respective energy isolation. This collaborative effort was announced by Cypriot Energy Minister George Papanastasiou on Monday.
Papanastasiou emphasized Israel's strong interest in ensuring a reliable energy supply from Cyprus's reserves, which include both conventional and renewable sources. He outlined that Cyprus is on track to generate approximately four gigawatts (GW) of electricity, while its current consumption stands at only 0.5 GW. The renewable energy contribution comes from wind and solar sources, which generate around 1 GW, but with licenses for the development of additional parks totaling a capacity of 2.8 GW. Additionally, conventional fuel sources contribute 1.4 GW.
The commitment to establish the electricity cable link was solidified during a meeting between Cypriot President Nikos Christodoulides and Israeli Prime Minister Benjamin Netanyahu on Sunday. This meeting coincided with Christodoulides' daylong visit to Israel and the West Bank city of Ramallah.
During their discussions, both leaders highlighted the strategic geographical location of their nations as natural gateways bridging Europe and the Middle East. Papanastasiou noted that this geographic advantage opens the door to capitalize on potential benefits, particularly through the creation of a trade, energy, and digital connectivity corridor that would link India, the Middle East, and Europe.
This proposed corridor, known as the India-Middle East-Europe Economic Corridor (IMEC), was introduced during the G20 summit in India in 2023, showcasing a significant collaborative effort among major economies. Netanyahu remarked on his recent conversations with Indian Prime Minister Narendra Modi regarding IMEC, describing it as "a very revolutionary and transformative development" that they are keen to implement.
In addition to the Israel-Cyprus electricity project, another significant initiative is already in progress: the Great Seas Interconnector (GSI), which aims to connect Greece and Cyprus. This ambitious 1.94 billion-euro (approximately $2.19 billion) project is partly financed by the European Union, which has committed 800 million euros (around $903 million) to its realization. However, the progress of this interconnector project has faced setbacks due to Turkey's objections. Turkey argues that the project cannot proceed without its approval, citing that the proposed cable route traverses waters claimed under its jurisdiction.
The collaboration between Cyprus and Israel not only aims to address energy needs but also signifies a broader strategic initiative that seeks to enhance interconnectivity between vital regions. This growing relationship could pave the way for future energy partnerships and economic collaboration across the region, fostering a more integrated energy landscape.
