Crete Interconnection Project Secures €178M EIB Loan

The Independent Power Transmission Operator (IPTO or ADMIE) has signed a €178 million euro ($200 million) deal with European Investment Bank to partly fund the interconnection of the island of Crete with mainland Greece, in the region of Peloponnese.

The project, initially estimated at €375 million, includes two AC 150 kV submarine cables, 150 kV underground and overhead circuits, a compensation terminal in the Peloponnese and network reinforcements associated to the interconnection.

The landing points of the submarine cables are in Kissamos bay (Crete) and the Malea peninsula (Peloponnese).

The project should enable the replacement of thermal generation on the island (mainly oil-fired generation units) with more efficient generation from mainland Greece and increase the hosting capacity of the island for renewable energy sources.

Prysmian was awarded a contract to deliver subsea cables for the project worth €125 million.

The submarine cables will be produced at the Prysmian’s centre of excellence in Arco Felice (Naples) with delivery and commissioning scheduled for 2020.

Share this article

Follow Subsea World News

Events>

<< Feb 2020 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 1

OFFSHORE TECHNOLOGY CONFERENCE (OTC2020)

The Offshore Technology Conference (OTC) is where energy professionals meet to exchange ideas and opinions to advance…

read more >

Oceanology International 2020

Exhibitors from industry, government and research institutions share their knowledge and come…

read more >

OTC ASIA 2020

The Offshore Technology Conference Asia (OTC Asia) is where energy professionals meet to exchange…

read more >

Shallow and Deepwater Mexico Exhibition and Conference

Shallow and Deepwater Mexico, an offshore oil and gas exhibition and conference is the key center for the international offshore oil and gas community in Mexico. 

read more >