PPC Quantum Energy S.A., a subsidiary of public-run Public Power Corp. S.A., formally announced the launch of the construction of a 2,000 MW undersea electricity cable to link up the electricity grids of Israel, Cyprus and Greece. The company has notified the Greek Regulatory Authority for Energy (RAE) and CERA, the corresponding authority in Cyprus, over the "EuroAsia Interconnector" project. In a joint letter to the company, both authorities underlined that the implementation of such an ambitious project will decisively contribute to ensure the safety of power supply for the entire region of SE Europe and the eastern Mediterranean. They also suggested a meeting to take place between the company and the parties involved for the formal presentation of the project.