The energy ministers of Israel, Cyprus and Greece signed today a memorandum of understanding in the Cypriot capital, Nicosia, to extend the electricity cable under the surface of the Eurasian sea. The cable will be extended over a distance of 1,500 kilometers and a depth of 2,700 meters, and it will link the electricity networks in the three countries and connect Israel to the European electricity grid. EuroAsia Interconnector will be the longest undersea power cable in the world with a capacity of 1000-2000 MW. Related materials Israel, Greece and Cyprus are preparing to sign the EastMed pipeline agreement. The cable will have three sections in the Mediterranean: 310 kilometers from Israel to Cyprus, 900 kilometers from Cyprus to Crete, and a final 310 kilometers between Crete and Ithaca in Greece. The work must be completed by 2024. The project will cost about 3 billion shekels, which will be funded by the participating countries and the European Union as a project of common interest (PCI). During the signing ceremony, Israeli Energy Minister Yuval Steinitz, Cyprus Energy Minister Natasha Pelides, and Greek Energy Minister Costas Skikas pledged to work together to promote the project. Steinitz said: “This is big news for the citizens of Israel. The Eurasian submarine cable will allow us to receive electrical support from the networks on the European continent in times of emergency, and most importantly, it will also support our ability to significantly increase our dependence on the production of electricity from solar energy, and it will help us in Achieve the government’s solar energy targets for 2030. ”Published by Globes, Israel business news – en.globes.co.il – on March 8, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021.