The need to secure the revenue of the period 2024 – 2025 for her work electrical interface Greece – Cyprus Great Sea Interconnector, through the decisions of the two countries’ regulators, stressed its chairman and chief executive ADME Manos Manousakis in an interview with Bloomberg.
Mr Manousakis said that the investments made so far by ADMIE amounted to 250m euros, critical to recovery costs in order for the work of the electric interconnection to continue seamlessly.
“When ADMIE is approaching banking institutions to secure lenders, lenders call for documents showing that there is a revenue recovery,” he said, adding that in order to proceed with the project, ADMIE should be able to receive a loan.
The Great Sea Interconnector project is co-funded by the European Union with 657m euros in the Greek-Cyprus interconnection side, while in terms of the Cyprus-Israel interconnection, the cost-benefit study of the Cypriot and Israeli authorities is expected to be presented until the end of June.