Cyprus is set to become an energy bridge between two continents — Asia and Europe — with a massive project underway to transfer electricity to the whole of Europe. The project involves the connection of Israel, Cyprus and Greece and consequently the entire European electricity network with an underwater sea cable. It is being undertaken by Dei-Quantum Energy-Cyprus, Public Power Corporation (Dei)-Greece, and state institutions from Israel. The cost of the project will amount to €1.5 billion. Funding will come from Dei-Quantum Energy. “Studies for the ambitious project will completed by the end of 2012 and the target is to have it up and running by 2013,” Nassos Ktoridis, Dei Quantum Energy chairman told The Cyprus Weekly.
Cyprus Weekly
