The winning bidders of a tender for Crete’s small-scale interconnection, to link the island’s grid with the Peloponnese, are expected to be announced by September.

The power grid operator IPTO, currently appraising bids submitted by Greek and foreign firms, is believed to be satisfied with the overall level of participation.

IPTO has divided the project into three segments: installation of the submarine power cable; construction of underground sections on land; and construction of two sub-stations, on the Peloponnese and Crete.

According to information made available, three investors have submitted offers for the tender’s section concerning the installation of submarine power cables, two firms have submitted offers for construction of the underground sections on land, and four firms have submitted offers to construct the two sub-stations on the Peloponnese and Crete.

The tender for Crete’s small-scale interconnection represents the operator’s first to be exclusively staged via an electronic platform.

The project’s total budget is worth 324 million euros. It is planned to be co-funded by the EU’s financial framework (2014-2020) supporting cohesion policies and developed by IPTO.