According to the head of the authority George Petrou, the EAC board of directors took the decision on 28th May. Petrou said that the funds would be used for projects that include the installation of new transmission substations, the upgrading of existing substations and the installation of large transformers. He added that the board also decided to draw up a new strategic plan for the authority.

During its four-hour meeting, the board awarded two bids of €25 million and €20 million each. With the approval of these two tenders, the authority’s board has this year awarded tenders for new projects in the authority’s transmission directorate for a total amount of €76 million.

Petrou said that the main projects included in the tenders concern the installation of a substation at the Limassol port and the reinforcement of the networks. “The most important thing for us and our first priority is to strengthen the networks and build the new substations so that we can connect Renewable Energy Sources (RES) to the grid,” he said. In relation to the project at the Limassol port, Petrou said that this project concerns the installation of a substation as there is currently only one electricity meter from which all the companies located in the port are charged separately.

Petrou also announced the board’s decision to move forward with a new strategy in relation to the future of the EAC, which he said will be drawn up soon. He also referred to the visits that the board made on Tuesday morning in Limassol to meet the authority’s staff and discuss with them issues of concern.

Source: Cyprus Mail