Two major grid projects planned for development by power grid operator IPTO in order to boost the country’s grid capacity and energy security are set to receive a total of 195 million euros in funding through the recovery and resilience fund, following a joint ministerial decision by the energy and finance ministries.
The joint ministerial decision secures financial support, through the recovery and resilience fund, for the fourth and final phase of the Cyclades interconnection and reconstruction of the Koumoundourou high-voltage center along with a 400kV line linking the facility with the Corinth high-voltage center, west of Athens.
The two projects are budgeted at a combined total of 482 million euros. The fourth phase of the Cyclades interconnection, budgeted at 393 million euros, is expected to receive 165 million euros through the recovery and resilience fund.
The Koumoundourou high-voltage center, whose budget is estimated at 89 million euros, is expected to receive 30 million euros in financing through the recovery and resilience fund.