The impending involvement of the US sovereign wealth fund DFC in the project created a new requirement for the execution of the significant energy and geostrategic project of the electrical interconnection between Greece, Cyprus, and Israel. As it became known today, the American fund DFC expressed, through a letter of intent addressed to the management of the Independent Power Transmission Operator (ADMIE), its practical interest in participating in the interconnection project.

Prior to this, the competent Deputy Minister of State for Energy, Al. During her recent visit to the USA in February, during her contacts with US Secretary of State J. Pyatt in the framework of the 5th Strategic Dialogue, the responsible Energy Commissioner, Mr. Sdoukou, made relevant contacts during her recent visit to the USA in February.

The relevant discussions also matured with initiatives of the DFC management, while it is underlined that the development further enhances the geostrategic importance of Greece as an energy gateway for the wider region of South-Eastern Europe. At the same time, the development certainly helps the implementation of the project, which is maturing and has approved funding from the EU. 

In this context, according to the relevant announcement from DFC, a teleconference was held in the previous days between executives of DFC and the Ministry of Environment and Energy, where the prospects and terms of participation in the project were discussed.

A key condition for ADMIE's final investment decision is the timely completion of the regulatory framework by the Greek and Cypriot regulatory authorities.

The President & CEO of DFC, Mr. Manos Manousakis, said: "We welcome the formalisation of ADMIE's interest in participating in the Great Sea Interconnector. It represents a vote of confidence in the implementation of the project, which will have multiple benefits for Cypriot and Greek consumers. For this development, I would like to express my sincere gratitude to the leadership of the Ministry of Environment and Energy and the US Embassy, especially Ambassador George J. Tsounis, for their contribution.