The Independent Power Transmission Operator (IPTO) has temporarily frozen payments to French cable company Nexans due to the prolonged uncertainty regarding the course of the Crete-Cyprus electricity interconnection (Great Sea Interconnector).
This is the February installment, amounting to 70 million euros. The “freeze” was made after consultation with Nexans.
Geopolitical reasons
The decision was taken due to the uncertainty over the project, which is due to geopolitical factors, mainly due to Turkey’s reaction.
The Italian research vessel IEVOLI RELUME, which until recently was off Kassos and then returned to Heraklion, Crete, has set sail, returning to its base in Messina, Italy.
The research vessel “NG WORKER” is also in Italy, the second research vessel which, as “N” had earlier reported, following a relevant NAVTEX issued by the Heraklion hydrographic station, carried out work north of Crete 6.5 nautical miles from the coast of Agios Nikolaos.
While the research vessels are conducting research on the electrical interconnection between Greece and Cyprus, Turkey ensures its ‘presence’ is felt “off” Crete (20 nm).
