A Memorandum of Understanding (MoU) was signed on Monday in Dubai by Greece’s Independent Power Transmission Operator (IPTO), the Republic of Cyprus’ Ministry of Energy, Commerce & Industry, and Abu Dhabi-based energy conglomerate TAQA, it was reported on Tuesday, according to ANA.
At a special event organized at the Greek Ministry of Environment & Energy’s COP28 pavilion, in the context of the 2023 UN Climate Change Conference (COP 28), the MoU was signed by Cyprus’ Minister of Energy, Commerce & Industry Giorgos Papanastasiou, IPTO President & CEO Manos Manousakis, and TAQA Executive Board Member Jasim Husain Thabet. Greek Deputy Minister of Environment & Energy Alexandra Sdoukou was present at the signing.
The MoU concerns the framework of negotiations between the three parties for the entry of Cyprus and TAQA into IPTO’s special purpose subsidiary company ‘GreatSea Interconnector’, which is the new implementation body – having succeeded EuroAsia Interconnector – of the electrical interconnection of Greece (Crete), Cyprus and Israel. The MoU aims to promote the implementation of the Crete-Cyprus section, which shows the highest degree of maturity.
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