“Green light” from meeting of European Commission, Greece, Cyprus and European Investment Bank, for ADMIE to submit a formal request financing for GSI to the EIB.
During the meeting, the strategic importance of the project was highlighted, particularly in the current geopolitical context, and the joint letter of Ministers Papastavrou and Damianou for financing the project, following due diligence, was assessed as a positive development.
It is noted that the study to be implemented by the EIB will clarify the necessary economic and technical parameters of this interconnection and will pave the way for potential investor participation.
The meeting on the Greece-Cyprus Electric Interconnection (GSI) was attended by Minister Papastavrou and Deputy Minister Papastavrou. Tsafos, the Cypriot Minister of Energy, Mr. Michalis Damianos, the Deputy Minister to the President, Mrs. Irini Piki, the European Commissioner for Energy, Mr. Dan Jorgensen, the Director General for Energy, Ditte Juul Jorgensen, the President and CEO of ADMIE (project promoter), Mr. Manos Manousakis and the Vice President of the EIB, Mr. Ioannis Tsakiris.
