Interconnector agreement reached

An agreement has been reached on how to cover the funding gap for the Great Sea Interconnector (GSI), it emerged on Tuesday, after a marathon session between all stakeholders the previous day.

The accepted solution, based on a proposal of Energy Minister George Papanastasiou, involves tapping into the state’s energy penalty fund for emissions, state broadcaster CyBC reported.

The governments of Cyprus and Greece, the EU directorate-general for energy, the regulatory authorities of the two countries...