Inauguration of Phase A of Cyclades Interconnection

19.03.2018

The first phase of the Cyclades Interconnection Project was officially inaugurated on March 19th by the Prime Minister of Greece, Alexis Tsipras, in the presence of the Energy and Environment Minister George Stathakis and the Mayor of Syros, George Marangos.

As noted during the ceremony, March 12th was a historic day for the island of Syros. On this day, the oil power station of Syros ceased to operate and the island was interconnected to the Hellenic Electricity Transmission System (HETS) via the Lavrion GIS Substation.  The electricity needs of Syros, Paros, Antiparos, Naxos, Koufonissi, Schinoussa, Iraklia, Ios, Sikinos and Folegandros are now covered by the mainland Electricity Transmission System, with Mykonos expected to follow suit in the near future.
 
The Cyclades Interconnection is a very important Project for the Greek economy as it provides reliable and sufficient power supply to the islands with high voltage electricity, boosting tourism and the economic activity as a whole. At the same time, the burden on consumers through Public Service Obligations (PSOs) is reduced, since all electricity consumers in Greece subsidize the more expensive electricity that is generated by oil power stations in the non-interconnected islands. Furthermore, the Project improves the environmental footprint of the islands and encourages the penetration of Renewable Energy Sources through new investments.

The €247 million Project which was co-funded by the European Union and the National Strategic Reference Framework (NSRF) and financed from the European Investment Bank is the first Project completed by ADMIE under its new shareholder structure, signaling a new era of interconnections for the Transmission System Operator.

The new management that took office in the summer of 2017, in cooperation with the employees, completed the Project in seven months, resolving speedily various administrative and business problems along the way. As the Chairman and Chief Executive Officer of ADMIE M. Manousakis pointed out, “This is an excellent example of how a company under public control can accelerate projects, operate efficiently and thus contribute to the development of the national economy”.