Nexans wins €1.43 billion contract for EuroAsia Interconnector
Nexans has secured the turnkey contract valued at €1.43 billion for the Cyprus – Greece section of the EuroAsia Interconnector that will connect the grids of Greece, Israel and Cyprus.
The 525kV HVDC cable will have a bi-pole length of 2×900 kilometers and will run across the Mediterranean Sea floor at depths of over 3,000 meters.
Subsea HVDC mass-impregnated cables will be manufactured at Nexans’ facilities in Halden, Norway, and Futtsu, Japan, and will be installed by the cable-laying vessels Nexans Aurora and Nexans Skagerrak.
“This record-breaking project demonstrates our capacity to innovate and push the limits of electrical transmission and distribution to meet an ever growing global need. This is a crucial step on the path to a carbon-free economy,” said Christopher Guérin, Nexans CEO.
“Nexans’ global electrification strategy is playing a key role in the world’s journey to a net zero future and we are excited that we have been selected to bring the development of the EuroAsia Interconnector to life.”
The EuroAsia Interconnector will exchange up to 1,000 MW among the three nations with the capability of increasing to 2,000 MW, the equivalent to 3 million households’ average electricity consumption, and will end the energy isolation of Cyprus by creating an energy highway between Europe and Asia.
Formal clearance of the Greek and Cypriot energy regulators is expected in due course. Pole One is planned to be completed in 2028 and Pole Two in 2029.
The interconnector has been designated as a Project of Common Interest (PCI) by the European Union which will allow it to benefit from accelerated planning and permitting, lower administrative costs, and public participation.
Greek transmission system operator (TSO) IPTO has been providing technical and operational capacity to the project.
“We are proud that after 12 years of hard work the world’s longest and deepest subsea HVDC electricity interconnector built by Nexans will put Cyprus on the world energy map, while also ending the energy isolation of Cyprus, the last non-interconnected EU member state, and Israel,” said Nasos Ktorides, CEO of EuroAsia Interconnector.
“The EuroAsia Interconnector Israel-Cyprus-Greece electricity interconnector is a leading European project of common interest PCI 3.10 that ends the energy isolation of Cyprus and Israel, creates security of supply, significantly reduces the CO2 emissions, and serves the “Green Deal” of the European Commission.”