The Quantum Corporation Group

 

QUANTUM CORPORATION has a strategic participations in five electricity-generating stations in south-east Europe, using locally available lignite and hydropower – two thermoelectric and three hydroelectric – with a total output of 1,422MW.

Committed to the most environmentally friendly production processes possible, each power station is an important step in the journey towards establishing energy self-sufficiency, helping to enhance quality of life for consumers and economic prosperity of the region.

Close to 70% of Europe’s energy needs will be met mostly from areas currently facing a period of severe instability in the rest of the world. At a time of unstable oil and natural gas prices, the need to secure entirely local and natural energy supplies – from inputs through to outputs – has never seemed more pressing.

Our stakeholders continue to gain from our strong performance. At the same time, our success is meaningful – and sustainable – as it goes hand in hand with prosperity in the region.

 

EUROASIA INTERCONNECTOR, a leading European Union Project of Common Interest (PCI), comprises the electricity interconnection between the grids of Israel, Cyprus and Crete-Attica in Greece through a subsea DC cable and with HVDC onshore converter stations at each connection point, with a total capacity of 2000MW.
The project is an energy highway bridging Asia and Europe with a total length of 1520kms. It creates a reliable alternative route for the transfer of electric energy to and from Europe.

The EuroAsia Interconnector:

• ends the Energy Isolation of Cyprus as the last EU member which remains fully isolated without any electricity or gas interconnections.
• creates an electricity highway from Israel-Cyprus-Crete-Attica, Greece through which the European Union can securely be supplied with electric energy produced by the gas reserves in Cyprus and Israel, as well as from the available Renewable Energy Sources, contributing at the same time to the completion of the European Internal market.
• ensures the security of energy supply of the three involved countries and of the EU system altogether, through the integration of the isolated small systems of Cyprus and Crete with the Israeli and European networks and the uninterrupted – multidirectional flow of energy.
• promotes the substantial development of RES and contributes to the reduction of the CO2 emissions.
• offers significant economic and geopolitical benefits to the involved countries.
• contributes to the EU target for 10% of electricity interconnection between Member States.
• provides significant socio-economic benefits worth 10 billion euros.

 

EUROAFRICA INTERCONNECTOR comprises the electricity interconnection between the grids of Egypt, Cyprus and Crete-Attica, Greece, through a subsea DC cable and with HVDC onshore converter stations at each connection point, with a total capacity of 2000MW. The project is an energy highway bridging Africa and Europe with a total length of 1628kms. It creates a reliable alternative route for the transfer of electric energy between Africa and Europe.

The EuroAfrica is part of the European Union’s energy objective to end energy isolation and can receive positive evaluation due its contribution to the energy targets:

• ends the Energy Isolation of Cyprus as an EU member state, as well as the island of Crete, Greece. Cyprus is the last EU member which remains fully isolated without any electricity or gas interconnections.
• creates the electricity highway from Egypt-Cyprus-Crete-Greece to Europe through which the EU can securely be supplied with electricity produced by the gas reserves in Cyprus and Egypt, as well as from the available Renewable Energy Sources, contributing at the same time to the completion of the European Internal market.
• ensures the security of energy of supply of Egypt and of the EU system altogether, through the integration of the isolated systems of Cyprus and Crete with the Egyptian and European networks and the uninterrupted – multidirectional flow of energy.
• promotes the substantial development of RES and contributes to the reduction of the CO2 emissions.
• offers significant economic and geopolitical benefits to the involved countries and Europe.
• contributes to the target of the European Union for 10% of electricity interconnection between Member States.
• provides significant socio-economic benefits.

 

QUANTUM CABLE

Global telecommunications will undergo a drastic and revolutionary change with the introduction of the Quantum Cable, the super-fast subsea cable of up to 160Tbps in the Mediterranean, following a Memorandum of Understanding and Heads of Agreement signed in Nicosia between the owner, Quantum Cable, and a leading U.S.-based global industry supplier and S&P company, and supported by government officials from Cyprus and Greece.

This follows a trilateral declaration of co-operation in Thessaloniki, on June 15, 2017, where Alexis Tsipras, Prime Minister of Greece, Nicos Anastasiades, President of Cyprus and Benjamin Netanyahu, Prime Minister of Israel, agreed “in the field of the Fiber Optic Undersea Cable, to support the deployment of new cable interconnections among the three countries. Such infrastructure is a critical link between Europe, Middle East and Asia and will enhance the capacity of internet connections.”

The cable will transmit up to 160 terabits per second, with the capacity to handle up to 60% of the world’s internet traffic at peak time.

The MoU/HoA was signed by Nasos Ktorides, Chairman of the Board of Directors of Quantum Cable and the contractor/supplier.

The “Quantum Cable”, with a capacity of up to 160Tbps will be laid at depths of more than 3,000 metres in parallel with the EuroAsia Interconnector and its operation is expected to commence simultaneously with the 2,000MW EuroAsia Interconnector, thus achieving tremendous economies of scale.

The entire cost of the project is estimated at US$200 million which will be undertaken by Quantum.

The Quantum Cable system will be in operation by October 2020.

The Quantum Cable will achieve a “massive data highway” at very high interconnection speeds, reaching Bilbao, Spain to the MAREA subsea cable connecting across the Atlantic Ocean from Virginia in the US to Bilbao, Spain, in Europe.