IPTO to participate with 25-percent stake in EuroAsia Interconnector project

Greece’s Independent Power Transmission Operator S.A. (IPTO) has agreed to participate in the share capital of the EuroAsia Interconnector scheme, the special vehicle company that aims to connect the power grids of Israel and Cyprus with Greece, according to a joint announcement issued by the relevant ministries of Greece and Cyprus.

IPTO will participate with 25 percent of the company’s share capital, something the announcement stated ensures the technical and financing capacity of the project and places the foundations for its timely completion until 2027.

The independent operator has served as a technical adviser for the project since 2021, while mediating in its financing with 657 million euros from the Connecting Europe Facility (CEF).