‘The Electricity Connection will contribute towards lifting the energy isolation of Cyprus and connecting the national electricity transport system with the respective European ones. A work of strategic importance for Cyprus, Greece, but also the whole of the EU,’ a joint statement read.
IIRC, Cyprus uses oil generation – some islands do that – which I imagine is not cheap, so this is probably an economic win for Cyprus as long as Greece can transport at reasonable rates.
kagis
Okay, not all, but looks like 85% oil:
https://www.iea.org/countries/cyprus