The US state fund DFC expressed its interest in participating in the electrical interconnection Greece – Cyprus – Israel Great Sea Interconnector, through a letter of intent, which it addressed to the administration of the Independent Power Transmission Operator (IPTO).
DFC took the relevant decision after an economic and technical evaluation of the project and its participation will take the form of either equity participation, or lending, or a combination of the two.
In this context, a teleconference was held in the previous days between executives of the IPTO, DFC and the Ministry of Environment and Energy, where the prospects and conditions of participation in the project were discussed.
A key condition is the timely completion of the regulatory framework by the regulatory authorities of Greece and Cyprus.
The president and managing director of IPTO, Manos Manousakis, commented: “We welcome the formal interest from DFC to participate in the Great Sea Interconnector. It is a vote of confidence in the effort to implement the project, which will have multiple benefits for Cypriot and Greek consumers. For this development, I would like to warmly thank for their contribution, the leadership of the Environment and Energy Ministry and the US Embassy and, especially, the ambassador, George Tsounis.”
