Proposed investments in Cyprus Turkish Electricity Authority (KIB-TEK) and the expected financial support from the Republic of Turkey were on the agenda at the Istanbul summit, Kibris Postasi reports.
President Ersin Tatar who was present at the meeting, again raised the issue of renewing the transmission lines as a matter of priority.
According to Kibris Postasi, investments for KIB-TEK include two new transformers and a 40 MW power plant.
It is reported that KIB-TEK’s warehouses are stocked with materials, including a shipment of a thousand electric poles, which is said to meet the country’s needs for the next two years.
In addition to cables and technical materials, it is claimed that the material shortage has been resolved, with 15,000 new meters available and an auction for 12,000 more.
TWO NEW TRANSFORMERS UNDER CONSTRUCTION
The new transformers are expected to solve the chronic problems of power cuts in certain regions triggered by population growth.
One transformer will be sited in the border region and the other near the new Presidential Complex. This is expected to resolve the issues of power cuts in the Gönyeli-Ortaköy region.
The cost of the transformer to be built in the border region is reported to be $7,150,000, and completion is expected within three months.
INVESTING IN KIB-TEK ALWAYS A PRIORITY
Chairman of the KIB-TEK’S Board of Directors, Hüseyin Paşa, who spoke to Kibris Postasi said: “In particular, we see the support of Prime Minister Ünal Üstel for the institution. We are working and being productive. With the ongoing support from Turkey, as always, we are trying to strengthen our institution by resolving our shortcomings. Will there be an investment in the institution to be privatised? We are continuing our investments at full speed. With the committees established mutually with Turkey, we are working on both interconnection electricity and the renewal of outdated transmission lines. We will also proceed with the renovation of transmission lines due to the construction of new power plants and transformers”.
KIB-TEK’s Chairman also mentioned that Turkey pays the freight cost for diesel purchases, creating an advantage for the TRNC. Therefore, with the agreement, whose one-year term expires, continuing after January 1, 2024, the country will enjoy this advantage for another year.