Power interconnection of Crete with Attica deemed Greek national project

“They go their way, and we’ll go ours,” is the gist of how the Greek side – and especially the Regulatory Authority for Energy (RAE) which has the first say – responded to yesterday’s joint announcement by the Commission, the Cypriot Authorities and EuroAsia Interconnector asking Greece to accept the Commission’s roadmap Commission and keep the interconnection of Crete – Attica, within the single PCI .

In fact, the Hellenic Ministry of Environment and Energy, yesterday, following the deadline Mr Stathakis had given to EuroAsia in his letter to Commissioner Kannede, appears determined to withdraw the support of the Greek government towards its PCI interconnection of Attica – Crete – Cyprus – Israel.

Such a move will spark developments as it will hardly be left unanswered by the EuroAsia Interconnector (which is expected to claim damages), but also by the Commission. However, without the Greek support, PCI can not exist …

The next move will be for RAE to take a new decision that will entrust Ariadne with the construction of the interconnection as a national project that is part of the investment project of Independent Power Transmission Operator (ADMIE)

As has been repeatedly mentioned by ADMIE, Ariadne is continuing the preparatory actions for the construction of the project, and the tender for the search for a strategic investor (one or more) to participate in the SPV with up to 49% maximum.

The wager is of course whether the tense relationship of the Greek side with the Commission, the Cypriot authorities and the EuroAsia Interconnector will cause delays in the critical dimension of the construction and operation of the interconnection with Crete.

The sufficiency of electricity supply on the island is now an issue of enormous importance and the times are marginal. The critical situation is described in the decision of RAE, which was published yesterday, and provides for the extension until the end of 2022 of PPC’s production license for the two Gas Turbine Units, at the Prefecture of Heraklion.