Originally of June, the administration of ADMIE will current to Cyprus the cost-benefit examine for the challenge of {the electrical} interconnection Greece – Cyprus – Israel (Nice Sea Interconnector) on the premise of which the Republic of Cyprus will resolve on its participation within the challenge and the outcomes of which will likely be “very constructive for the challenge”, mentioned the President and CEO of ADMIE, Manos Manousakis, talking on the ninth Power Transition Symposium organized by the Hellenic Society for Power Financial system (HAEE).
Referring to the angle of the Cypriot Authorities, Mr. Manousakis, based on an announcement from the ADMIE, mentioned that it’s constructive and supportive, whereas the American Authorities has additionally given a “vote of confidence”, as he mentioned, by the intention of the state fund DFC for funding participation within the challenge, which, as he mentioned, “makes us optimistic that geopolitical threat won’t seem”.
Additionally, Mr. Manousakis referred to the necessity to amend the regulatory framework to ensure that the Greece-Cyprus-Israel electrical interconnection challenge to proceed easily.
“We would like the regulatory framework to be accomplished on time. Already, a call is below session that must be modified in some locations, with a view to make the challenge sustainable and to proceed to repay the cable producer”, mentioned Mr. Manousakis, based on an announcement by ADMIE.
Mr. Manousakis said that ADMIE undertook the development of the interconnection primarily based on the existence of a regulatory framework that might not create a threat of economic loss for the Operator, including that the delay in its completion creates uncertainty for the challenge.
He additionally mentioned that originally of June the administration of ADMIE will current to Cyprus the cost-benefit examine primarily based on which the Republic of Cyprus will resolve its participation within the challenge and the outcomes of which will likely be “very constructive for the challenge”.
In addition to, based on the announcement, the top of ADMIE additionally referred to the Crete-Attica interconnection which is heading in the direction of its completion.
“On the finish of 2024, the development work will likely be accomplished, whereas originally of 2025, the electrification of the road will start on a trial foundation, which is able to final three months. Due to this fact, in the summertime of 2025 when the demand for vitality will peak, Crete will likely be vitality safe”, he added.
Requested about the remainder of the home interconnections, Mr. Manousakis referred to the following initiatives that are the interconnections of the Dodecanese, the place the identical HVDC expertise will likely be used as in Crete, in addition to the islands of the NE Aegean.
Want for a regulatory framework for 'inexperienced' vitality cuts
In response to the ADMIE announcement, relating to the difficulty of “inexperienced” energy era cuts, Mr. Manousakis said that right this moment there isn’t a drawback of electrical energy area and added that “the massive funding curiosity within the development of RES initiatives will result in the exhaustion of the electrical energy area within the coming years”. “We’re working along with the Working Group of the Ministry of Power (Greece) to create a regulatory framework for cuts for the nation,” he added.
He said that it’s not attainable for ADMIE to compensate the vitality that’s lower, because it has already knowledgeable concerning the present vitality area and the bounds of the system, including, nevertheless, that within the medium time period the storage is predicted to restrict the issue.
Concerning the longer term plans of the Operator, based on the announcement, Mr. Manousakis mentioned that “we’ve got already began the medium-term planning for {an electrical} system that may accommodate extra RES than what corresponds to the demand, so as to have the ability to implement the nationwide vitality export technique'.
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