With two high-voltage cables, the “small” and the “big” one, the largest Greek island will be “plugged in” to become an energy hub, not only of the Aegean, but of the entire Southeast Mediterranean.
This project of national importance has multiple environmental and socio-economic benefits. It pertains to a EUR 1 bn investment, with a strong development potential for Crete, since its completion within 2023 will permanently eliminate the island’s energy isolation and will render Crete’s power supply cheap, green and reliable, signalling the end of Crete’s dependence on the autonomous polluting power plants which will be closed down.
The Contracts were signed in Crete on June 10th, 2020, between the Management of IPTO, Ariadne Interconnection and the project's contractors: Prysmian, Nexans, Consortium of Hellenic Cables - NKT, Siemens and TERNA.
This signing event was naturally attended by Mr Kostis Hatzidakis, Minister of Environment and Energy, and Gerasimos Thomas, Deputy Minister. It was also attended by local bodies of Crete and the Head of the Region, Mr Stavros Arnaoutakis.
In view of the special circumstances, the new measures to prevent transmission of the virus and new cases were respected and the event was streamed live on an online platform, where all questions and comments by journalists were answered.