EIB set to sign financing for major electricity projects

A series of major electricity system projects, led by the endeavor to interconnect the Cycladic islands with the mainland grid, are included on the list of projects headed for European Investment Bank (EIB) funding, to be signed tomorrow.

The EIB list also includes a number of smaller IPTO – Greece’s Independent Power Transmission Operator, locally referred to as ADMIE – projects concerning the stability of the electricity system, as well as its ability to receive energy from wind-energy parks in various parts of the country, such as Evia, Greece’s second-largest island just northeast of Athens, and Alexandroupoli, northeastern Greece.

The interconnection project for the Cyclades, to link the Greek islands of Syros, Tinos, Mykonos, and Paros with the mainland’s electricity grid, is budgeted at 263 million euro. Its proposed EIB financing reaches 130 million euro.

The EIB financing list also includes three transmission projects that constitute a part of IPTO’s power system development program covering 2012 to 2015. These are budgeted at 282 million euro and the proposed EIB financing reaches 140 million euro.