(ANSAmed) - ATHENS, APRIL 30 - PPC Quantum Energy S.A., a
subsidiary of electricity giant Public Power Corporation, this
week formally announced the launch of the construction of a
2,000-megawatt undersea electricity cable to link up the
electricity grids of Israel, Cyprus and Greece. The company, as
Athens News Agency reported, has notified the Regulatory
Authority for Energy (RAE) and CERA, the corresponding authority
in Cyprus, over the "EuroAsia Interconnector" project. In a
joint letter to the company, both authorities underlined that
the implementation of such an ambitious project will decisively
contribute to ensure the safety of power supply for the entire
region of SE Europe and the eastern Mediterranean. They also
suggested a meeting to take place between the company and the
parties involved for the formal presentation of the project. The
total length of the undersea cable will be 1,000 kilometers,
making it the world's biggest. It will be placed as deep as
2,000 meters from the surface at some points. The project will
be completed within three years and cost some 1.5 billion euros,
with the participation of PPC's Israeli counterpart. Its
revenues in the long term are estimated at up to 17 billion
euros. (ANSAmed).
