BUSINESS

Commission wants Crete connection deal finished

CHRYSSA LIAGGOU

TAGS: Energy

The European Commission remains vigilant regarding developments in the project for the power connection between Attica and Crete, and sources say it is determined to exhaust all avenues for it to proceed as a project of common interest (PCI).

Brussels is keen to see the project carried out by Greece’s Independent Power Transmission Operator (ADMIE) and EuroAsia Interconnector, despite the failure of negotiations on July 12, because European officials believe that any other solution would mean the loss of time and money, as the procedures for licensing would have to start from scratch, and funds of 14 million euros have already been received for studies.

It is also far from certain that the interconnection of Crete to the mainland will manage to secure European financing as an autonomous project. It forms part of the wider project of the interconnection of Greece with Cyprus and Israel, known as the EuroAsia Interconnector, which has a total budget of 3.5 billion euros, and the Commission is eager to see it through. It now discerns intransigence on both sides, which has heightened displeasure in Brussels.

The Commission is also concerned about the attitude of Athens, which is maintaining a distance from developments.

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