The memorandum was signed as the interconnector “requires close cooperation between the two sides to precisely study its operating scenarios, taking into account the individual characteristics of each electricity system.” Both sides confirmed their common interest in the rapid and seamless implementation of the interconnector project.

The main area of knowledge sharing comes regarding the Greek operator’s knowledge of high-voltage direct current underwater interconnector projects, which it will share and pass on to its Cypriot counterpart. Greece’s knowledge of such technology is based in previous underwater interconnectors it has built between its mainland and islands, including to Crete and the Cyclades.

This assistance will aid in areas such as the preparation of technical studies and analyses regarding the construction, implementation, and operating of the interconnector, as well as technical aspects of its design and the equipment used.

In addition, the memorandum provides for the exchange of information regarding the legal framework governing the project and matters such as environmental permits, with the aim of the required procedures going ahead “as quickly as possible”.