Signing of €658 mln Grant Agreement with the European Climate, Infrastructure and Environment Executive Agency (CINEA)

09 September 2022

Nicosia/Brussels, 9 September, 2022 – The Project Developer of PCI 3.10 EuroAsia Interconnector announces an important milestone towards the implementation of “PCI 3.10.2 – Electricity Interconnection between Cyprus and Greece (Crete)” has been reached with the signing of the grant agreement with the European Commission on September 8, 2022.

The grant agreement was signed with the European Climate, Infrastructure and Environmental Executive Agency (CINEA).

The amount of €657,905,500.00 granted to EuroAsia Interconnector is the largest funding ever granted to Cyprus and one of the largest funding amounts from the Connecting Europe Facility (CEF) for electricity interconnectors.