Positive
Project advancing - milestone achieved
High Impact
Major milestone or critical setback
On 26 January 2022, the European Commission approved a €657 million grant from the Connecting Europe Facility (CEF) for the EuroAsia/Great Sea Interconnector, specifically supporting the Greece–Cyprus (Crete–Cyprus) section of the 1,208 km HVDC link. This largest-ever CEF grant for an electricity project underpins part of the approximately €1.57–1.9 billion budget for the Crete–Cyprus segment and contributes to integrating Cyprus into the European power grid.