The project’s construction works, with a total EUR 365 million budget, are fully under way in Crete and the Peloponnese, with a horizon of completion within 2020.
IPTO announces the signing of the contracts for the accompanying works of the Crete-Peloponnese Electrical Interconnection and that the project is entering into full implementation trajectory. Specifically, on 25/10/201, the following contracts were signed:
- 4.5 million contract with INTRAKAT for the construction of a Transmission Line for the “Molaoi-Terminal” section.
- 5.5 million euro contract with ELEKTROMEK-NAR for construction of the STATCOM station.
The contracts for the main sections of the Interconnection were signed in November 2018 and their implementation is well under way. The total budget for the Crete-Peloponnese Interconnection, co-financed by Greece and the European Union and the European Investment Bank (EIB) loan, stands at EUR 365 million.
The first electrical interconnection of Crete is in line with the National Energy Planning which aims at withdrawing all polluting power plants by 2028 and significantly increasing the participation of RES in the country’s energy mix. This is the longest AC cable interconnection in the world and includes the submersion of a 132 km long cable in depths up to 1000 meters.
IPTO President and CEO, MR Manos Manousakis, notes: “Years of studies and efforts have been spent for the Electrical Interconnection of Crete. The Interconnection of Crete with the Peloponnese is the first important step in this direction, which will shield Crete from an energy aspect and ensure its energy adequacy for the winter months. After completion of the second Crete-Attica interconnection, the energy exclusion of Crete will be fully eliminated and the conditions will be created to develop the RES potential of the island”.
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