(MENAFN- Daily News Egypt) Egypt's Ministry of Electricity will postpone the electrical interconnection project agreement with Cyprus and Greece, EuroAfrica Interconnector, due to the necessary studies by the Cypriot side for the project not being completed.
A Ministry source told Daily News Egypt that the Cypriot developer of the project was notified several times that the studies required completion for the interconnection project to proceed.
The studies were required as part of compliance measures with the ministry's strategic plan for electrical linkage with neighbouring countries.
EuroAfrica Interconnector is a HVDC interconnector between Greek, Cypriot, and Egypt power grids via submarine power cable. It will have a capacity to transmit 2 GW of electricity in either direction.
The source added that Cyprus has determined the submarine cable path, with the Egyptian Electricity Transmission Company (EETC) responsible for determining the submarine cable's landing point in Egypt.
The sources added, however, that the EETC in fact needs in-depth and extensive studies, especially since the submarine cable is 1,707km long and will need high costs. Moreover, the cable's path and landing points also require security permits.
The source emphasised the importance of the project as it will benefit Egypt's strategic plan for economic development and energy security. The project is also set to connect Egypt to the European electrical grid through Cyprus.
He stressed that the project's implementation will not be activated or agreed upon until the required economic studies are completed. This includes an evaluation of all costs, alongside a review of construction, operation, maintenance, insurance, and guarantees.
In an announcement on its website, EuroAfrica Interconnector, the project developer, announced that the interconnector is in the pre-operation phase.
It noted that the Egyptian government had agreed on the electrical cable's path, landing point, and the converter station location. It did not, however, discuss further aspects.
"The project will turn Egypt into an energy centre and electric carrier in Europe," the company said.
It added that the project will contribute to a reduction in carbon emissions and provide social and economic benefits amounting to €10bn.
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