(MENAFN) An official declaration said that on Saturday, Oct. 16 Cyprus and Egypt inked a memorandum of understanding to endorse the electrical interconnection of both nations and guarantee energy supply for Cyprus.
The memorandum of understanding ensures the prompt granting of authorizations for the technical studies and laying of the undersea interconnector cable.
The declaration, released by the Ministry of Energy, Commerce and Industry, noted the venture will help in ending Cyprus' energy isolation, guaranteeing energy supply, and will also reinforce the effort to further develop renewable energy sources.
The declaration added that the interconnection is part of a broader scheme to electrically interconnect Egypt, Cyprus and Greece, already agreed between the administrations of the three nations in the context of their tripartite regional collaboration deal.
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