6 hours agoThe EU provides $1 billion for energy projects: underwater cables reach Israel
Periskopi(4 years ago)
(4 years ago)European Union member states have approved a $1.1 billion financial package that supports several energy infrastructure projects, the European Commission announced today. The value of 657m euros will help finance an underwater cable link of about 898km by joining [the] power grids....
European Union member states have approved a $1.1 billion financial package that supports several energy infrastructure projects, the European Commission announced today.
The value of 657m euros will help finance an underwater cable link of about 898km by joining the energy networks of Greece and Cyprus, part of a wider network planned with Israel, dubbed EuroAsia Interconction, reports the Athens.
The project, after completion, will allow electricity transmission in both directions and energy isolation of Cyprus, according to the EU statement.
Other EU initiatives include a continued overhaul of the energy network in Baltic countries in Poland, Lithuania, Latvia and Estonia, an additional transmission line between Sweden and Finland, and a gas storage facility in Bulgaria.
