The third phase of the Cyclades underwater electricity grid interconnection, to link Syros and Lavrio, east of Athens, is on schedule for completion in the fourth quarter of 2020, power grid operator IPTO has announced.

The installation of a second submarine cable covering the Lavrio-Syros section promises reliable, lower-cost power supply for the islands Syros, Paros, Naxos and Mykonos, IPTO noted. It also doubles transmission capacity to and from these islands, enabling further RES penetration into the national grid.

The total cost of this project, co-financed by EU and Greek institutions, is budgeted at 111 million euros.

Installation work for a first segment of submarine cable, measuring 28 km, is expected to be completed within the next few days, IPTO noted, adding that a second segment, covering 80 km, will be installed during the first quarter of 2020. The installation project is being performed by the Nexans Norway.

“We are very happy to continue our cooperation with our good partner IPTO. We are committed to the timely completion of the 3rd Cyclades Interconnection, which is a very important project,” noted Ragnhild Katteland, chief executive of Nexans Norway.

Officials of IPTO and Nexans Norway yesterday visited the ship to perform the project’s installation work, currently moored in Lavrio.