52 Cyprus Energy Regulatory Authority The PCI list is updated every two years, so that the projects that meet new needs are added and obsolete ones are deleted. PCIs are benefited from faster licensing procedures and more favorable arrangements and are eligible for financial support from the "Connecting Europe Facility". In the 2014-2020 budget period, 107 PCIs have benefited from the "Connecting Europe Facility" programme. The allocated grants for works and studies are worth €4.7 billion in total. When allocating "Connecting Europe Facility" Energy financial assistance, the Commission gave particular consideration to electricity projects, with the aim of making a major part of the financial assistance available to these projects over the period 2014 – 2020. So far, the majority of "Connecting Europe Facility" financial assistance has been allocated to electricity projects (including smart grids), which represent around 65% of total funding, double the amount dedicated to gas infrastructure. The year 2021 marks the start of the new multiannual work programme from 2021-2027, with an indicative timetable and budget for the calls for proposals 2021-2023. The first "Connecting Europe Facility" Energy PCI call for proposal, making €785 million available to finance clean energy infrastructure projects, was open for submission from 7 September to 19 October 2021. The projects that concern Cyprus and have been included in the 5th PCI list are the following: • Israel - Cyprus - Greece cluster (currently referred to as the "EuroAsia Interconnector"). The cluster includes the following PCIs: › Electrical Interconnection between Hadera (Israel) and Kofinou (Cyprus) and › Electrical Interconnection between Kofinou (Cyprus) and Crete (Greece) • Cluster of natural gas infrastructure and related equipment for the transmission of new gas resources from the offshore deposits of the Eastern Mediterranean, which includes the following PCI: › EastMed Pipeline - Natural gas pipeline outside Cyprus (offshore) to the mainland Greece via Crete, and • Development of gas infrastructure in Cyprus, the so-called "Cyprus Gas2EU". With respect to the Euroasia Inerconnector project and in particular the electrical interconnection between Israel and Cyprus, it is worth noting that in 2021, with Decision 136/2021 CERA decided to approve the agreement between the two regulatory authorities entitled "Joint Decision of the Hellenic Regulatory Authority for Energy (RAE) and the Cyprus Energy Regulatory Authority (CERA) with regards to clarifications and updates related to the Cross-Border Cost Allocation Agreement, of 10 October 2017, following the Commission Delegated Regulation (EU) 2020/389", which concerns updated issues pertaining to: • The rewording of the definitions of the words "Project" or "PCI" of the CBCA Agreement of 10th October 2017, • The implementation time schedule for PCI 3.10.2, • Ensuring the interoperability of PCI 3.10.2 and the Hellenic Electricity Transmission System (HETS), and • Confirmation of the already agreed cross-border cost allocation, namely that 37% of the agreed implementation cost (according to the CBCA Agreement of 10 October 2017) is allocated to Greece and 63% to Cyprus, provided that 50% of the project will be funded by third parties. In addition to the PCIs, which are included in the 5th list of key energy infrastructure projects, the implementation of the 2000MW electricity interconnection between Egypt and Cyprus of the so-called 'EuroAfrica Interconnector' is in progress. The project provides the implementation of the Egypt-
RkJQdWJsaXNoZXIy MzU4MTg0