The licenses of owner and operator of the Greece–Cyprus electricity interconnection Great Sea Interconnector (GSI) have been officially transferred by the Cyprus Energy Regulatory Authority (CERA) to the Independent Power Transmission Operator of Greece (ADMIE), as published on Friday in the Official Gazette of the Republic of Cyprus.
According to sources at the Greek Ministry of Energy, this development comes just one day after the meeting in Athens between the two countries’ energy ministers, Stavros Papastavrou and George Papanastasiou. During the meeting, the ministers agreed to move forward with resolving all outstanding issues related to the project. Officials described the transfer as the first concrete step toward implementing what was agreed at the talks, which they said took place “in an excellent climate.”
Speaking earlier today on Action 24 television, Greek Energy Minister Papastavrou had already announced the transfer of the licenses to ADMIE, stressing that the ministers had agreed “to move forward by settling all pending matters, so that we can present a united front for the implementation of the project that will put an end to Cyprus’ energy isolation.”
According to the publication in the Official Gazette, CERA approved the transfer of the interconnection ownership license from EuroAsia Interconnector to ADMIE, as well as the transfer of the interconnection operation license from EUTSO Ltd. to ADMIE.
The decision includes specific obligations for the new license holder. ADMIE is required to prepare a code of conduct applying to all managers and employees engaged in the ownership and operation of the interconnection.
In addition, for the operation license, ADMIE must submit an annual activity report including financial statements, project progress and compliance measures, ensuring full transparency in the management of the interconnection.
ADMIE is also required to pay the relevant annual license fee, along with the outstanding costs related to the license transfer.
The decisions come into effect as of their publication in the Official Gazette, with a 45-day period set for the formal completion of the process.
