DFC sends Letter of Intent to IPTO for participation in Great Sea Interconnector project

According to IPTO, America's development finance institution took the step following an economic and technical evaluation of the project, and will participate either in the share capital or funding loan, or a combinatin of both.

A teleconference was held a few days ago in this context, among officers of IPTO, DFC, and the Greek Environment & Energy Ministry to discuss the prospects and terms of participation in the project. DFC's final investment decision will depend on the timely completion of the regulatory framework by the Greek and Cypriot regulatory authorities.

IPTO Chairman & CEO Manos Manousakis commented, "We welcome the formalizing of DFC's interest in participating in the Great Sea Interconnector. It is a vote of confidence in the effort to implement the project, which will provide multiple benefits to Greek and Cypriot consumers. For this development, I would like to warmly thank the Environment & Energy Ministry leadership and the United States embassy, particularly Ambassador George Tsunis."