Big Energy Move in Northern Cyprus: Turkey-Backed Electricity Project

The Minister of Economy and Energy of the Turkish Republic of Northern Cyprus, Olgun Amcaoğlu, announced that the estimated cost of the DC power line project from Turkey to Northern Cyprus is €400 million. Amcaoğlu stated that the European Union had halted the €700 million grant for the electricity line project to the Greek Cypriot Administration, as reported in the media. The project's feasibility study estimated a cost of around €400 million, with €50 million allocated to the KKTC grid system. Amcaoğlu emphasized that this project will be Northern Cyprus's first interconnection, and that the feasibility studies have been completed. The project involves the construction of a 95-kilometer, 2x400 megawatt (MW) direct current (DC) system. The minister also announced that the KKTC has launched a large-scale solar energy project, which will provide 2 hours of energy storage and have a total installed capacity of 125 MW. Five entrepreneurs will be granted investment permits, each with a capacity of 25 MW. The KKTC has also established a free zone project in the Güvercinlik region, which will be a hub for investments in the agriculture and industry sectors. Amcaoğlu emphasized that the KKTC's energy needs will be met through renewable energy sources, and that the country will become a major player in the region's energy market. The minister also criticized the European Union's decision to halt the grant for the electricity line project, stating that the EU should provide the grant as part of a bi-communal project. Amcaoğlu concluded that the KKTC will continue to work towards becoming a major energy hub in the region, despite the challenges it faces.