The European Investment Bank’s (EIB) evaluation study confirms the economic viability of the EuroAsia Interconnector electricity interconnector and the significant positive results resulting from its implementation, the EuroAsia Interconnector Electricity Interconnector project promoter said in a statement, in response to media references on the European Investment Bank’s (EIB) evaluation study of the Cyprus-Greece electricity interconnection.
As said in the statement, the Implementation Body notes with great satisfaction that the significant socio-economic benefits resulting from implementing the electricity interconnection Cyprus – Greece (Crete) to consumers, amounting to €300 million per year, have been confirmed once again. This practically means reduced electricity bills for everyone.
It also confirms the Economic Net Present Value of the project with positive indicators showing that the project’s economic benefit to consumers exceeds the total construction and operation costs. It also confirms the economic viability of the electricity interconnection between Cyprus and Greece (Crete).