Posted on 03/10/21
| News Source: JNS
Israel, Cyprus and Greece signed a Memorandum of Understanding (MoU) on Monday regarding a project to link their power grids via the construction of the world’s longest and deepest undersea power cable.
The project, called the “Euro-Asia Interconnector,” will help Israel build on more options for renewable energy, contribute to energy security and reduce energy prices, said Israeli Energy Minister Yuval Steinitz at the signing ceremony in Nicosia.
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Steinitz called the MoU “great news for the citizens of Israel,” according to a ministry statement.
“The Euro-Asia Interconnector underwater power cable will allow us to receive electricity backing from the power grids of the European continent in times of emergency, and more importantly will also support our ability to significantly increase reliance on solar power generation, and help us meet the government’s 2030 solar energy targets,” he said. Read more at JNS