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In the air there is the great electrical interconnection of Crete with the mainland system of the country, after the collapse of the cooperation of the operator of electricity transport (ADMIE ) and the joint venture EuroAsia Interconnector
yesterday for the development of the project, a meeting between the parties to the Regulatory Authority of Energy (RAE), in which a representative of the Commission participated because the project is part of the electrical interconnection of Greece, Cyprus, Israel and was included in the projects of the interest of the EU, has not managed to bridge the differences between the UDHR and EuroAsia, resulting in a definitive break in their cooperation sealed by the signing of the memorandum of understanding last October
The spokesman for the Commission said conciliation procedure stating that the development was extremely unpleasant. It was preceded by the day of the publication of ACER's annual report on the progress of projects of common interest in case of delay of two years in the project of interconnection between Crete. and Attica.
RAE then has two months to decide whether to proceed with the direct badignment of the project to the UDMR with a binding timetable or to launch a call for tenders for investors.
The intention of RAE, who according to the information was formulated at the meeting yesterday, is to make long-term decisions and probably in the next week because there is already a long time limit. The project, in addition to the effects on electricity supply of Crete, since the old existing PPC plants will have to be phased out after 2020, risk being unable to obtain funding from funds. Community
EuroAsia, called to present the comments yesterday on the draft shareholder agreement presented by the UDMR at the previous meeting and on the basis of the agreement protocol d & # 39; October, proposed a totally different text which was also examined by the Commission.
What was planned
It should be noted that the two parties had agreed in October to jointly implement the project by means of a SPV in the which would involve 51% share capital, EuroAsia with 39% and 10% would be distributed to third-party investors. EuroAsia recognized this shareholding composition solely in terms of the investment component of the investment and called for the construction and operation of the project independently. For its part, UNHCR told RAE that it had the intention to build the project alone and finance its funding of 1 billion euros and even finish it in 2022, a year later. before planning its ten-year development program. RAE approved. UNDP has included in the Ten Year Program of Development the "small interconnection" between Crete and Peloponnese with a capacity of 140-180 MW and a running time in 2020 and the "great interconnection" between Crete and Attica. a capacity of 700 MW. December 2023. During the consultation of the IPA, PPC warned against the early interconnection of Crete, stressing that it is vital for the safety and sufficiency of supply in energy from the island from the beginning of 2020, humanitarian units of Crete can not operate after 2019 for environmental reasons. PPC describes the project as the most critical UDMR program for the first three years and stresses that any delay will jeopardize the security of the island's supply
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