Major trilateral agreement could link Israel to EU power grid by 2024

Major trilateral agreement could link Israel to EU power grid by 2024

Submarine cable to run from Israel to mainland Greece through Cyprus – a distance covering more than 1,000 miles.

source:  ISRAEL HAYOM
Israel will sign an agreement with Greece and Cyprus by the end of the year to lay a submarine cable that would connect it to the European power grid, Israel Hayom has learned.

The project, which is expected to take about four years to complete, was finalized following a conversation between Israeli Energy Minister Yuval Steinitz with his Cypriot counterpart Natasa Pilides.
The funding, estimated at some NIS 3.1 billion (some $917 million) will be funded by all three countries, as well as the EU. The cable will run from Israel to mainland Greece through Cyprus – a distance covering more than 1,000 miles – at a depth of almost 2 miles.
Once completed, it will initially be able to supply 1,000 megawatts, but the output is expected to double eventually. This means that it could potentially provide Israel with 20% to 40% of Israel’s domestic power consumption every month.
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