DISY’s Shift Supports Cyprus-Greece Electricity Interconnector Amid Funding and Geopolitical Challenges
The Democratic Rally (DISY) party in Cyprus has notably changed its stance on the Cyprus-Greece electricity interconnector project. Previously skeptical, with figures like former Energy Committee chair Kyriakos Hatzigiannis opposing it, DISY’s current Monitoring Council now supports the interconnector’s construction enthusiastically. This shift reflects internal disagreements within DISY and moves away from prior alignment with private solar interests.
The project, initially approved under the Anastasiades government, has faced significant hurdles including funding difficulties and geopolitical tensions, notably Turkey’s objections. EuroAsia, the initial operator, failed to execute the project, and the Greek grid operator IPTO also struggled to secure financing, leading to French firms Meridiam and Nexans taking over. Cyprus remains committed to its financial obligations under the framework agreement with Greece, awaiting a NAVTEX notice to begin seabed surveys—a move likely to escalate political tensions.
As Cyprus and Greece prepare for intensified talks with Turkish Cypriot representatives and guarantor powers, including the UN, uncertainties loom. The interconnector’s progress coincides with a sensitive period requiring minimal friction, yet unresolved permit issues and Turkey's unilateral claims cast doubt on a smooth negotiation process.
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