Nicosia: The transfer of the GSI license and its management to ADMIE marks a significant step towards resolving pending issues and preventing institutional and regulatory obstacles for the Greece-Cyprus electricity interconnection project, according to the Minister of Energy, Commerce, and Industry, George Papanastasiou. Speaking to CNA, he emphasized the Republic of Cyprus’ official interest in the project.
According to Cyprus News Agency, the geopolitical aspects of the project require careful management by the implementing body and the European Commission. Papanastasiou highlighted that although the decision to implement the project has been made, ongoing evaluations are necessary due to emerging circumstances caused by delays.
Papanastasiou addressed the resolution of a critical pending issue with the recent publication of a decision by CERA on September 3, which facilitated the license transfer to ADMIE. This action aims to foster trust and express the Republic of Cyprus’ commitment to the project officially.
The Minister expressed confidence in the alignment of positions between the Republic of Cyprus, Greece, and the European Commission, asserting the need to bridge any regulatory and institutional differences. He stressed the importance of minimal public statements and increased focus on implementation.
The geopolitical dimension, according to Papanastasiou, should be managed by relevant bodies, including the European Union and the European Commission, given the project’s European nature. He called for the European Commission’s active involvement in managing these aspects.
In discussions with his Greek counterpart, both sides agreed to focus on practical steps rather than public declarations. The recent license transfer exemplifies the progress made, with efforts underway to address pending issues and engage the European Commissioner for Energy on geopolitical considerations.
Regarding financial aspects, Papanastasiou clarified that the recent government bond auction is unrelated to the project’s funding. He reiterated that the project has undergone evaluation by the European Commission, and while implementation is decided, continuous assessment of arising circumstances is required.