The new ten-year investment plan at IPTO, the country’s Independent Power Transmission Operator, includes installing underground power lines, wherever required by the grid’s operating conditions, as well as establishing new high-voltage power stations.

“We have gone to the effort of planning projects that are not only necessary for the grid but society as well,” a top-level IPTO official told energypress.

The ten-year plan, focused on power transmission projects and based on a budget valued at over three billion euros, will be forwarded for public consultation in mid-January before being submitted to RAE, the Regulatory Authority for Energy, according to sources.

The initial investment plan for the ten-year period was based on a budget of 2.5 billion euros, but was revised upwards with emphasis on the development of projects in more remote parts of the country. “Numerous major projects will be developed,” the IPTO official remarked.

The operator’s investments in the counry’s power infrastructure have increased from levels of about 60 million euros, annually, in recent times to 130 million euros in 2014. It is anticipated that these annual investment amounts will continue increasing over the next few years, to reach 185 million euros in 2015, 230 million euros in 2016, and 340 million euros in 2017.

The operator’s profit figures have also been on the rise. Company profit is expected to reach 85 million euros in 2014, following a figure of 56 million euros in 2013 and 26.3 million euros in 2012.