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GreeceBusinessIPTO: 5.5 mln-euro-investments in new 10-Year Development Plan

IPTO: 5.5 mln-euro-investments in new 10-Year Development Plan

Hellenic News of America
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Investments of 5.5 billion euros are included in the new 10-Year Development Plan of the Independent Power Transmission Operator (IPTO) for the period 2025-2034 which is to be put to public consultation in the next few days before being submitted for approval to the Energy Regulatory Authority.

In the new plan, reference is made for the first time to the new large-scale international connections with Germany (Green Aegean Interconnector) via the Adriatic and Saudi Arabia (Saudi Greek Interconnection) that the Operator is studying, while the most mature plans for the connections with Cyprus-Israel and Egypt are also included, projects that are included in the planning for the promotion of Greece as a transmission and supply channel in Europe with “green” energy.

The design for the Green Aegean Interconnector concerns a total transmission capacity of 3 GW with further development in the second year to 6-9 GW. The proposed route of the project, which has an initial estimated budget of 8.1 billion euros, includes an undersea passage from Greece through the Adriatic to Slovenia, and then via an overland route to Austria and southern Germany. Discussions are ongoing with the involved Transmission System Operators who have expressed their willingness to work together to mature the project.

With reference to the Greece-Saudi Arabia interconnection project, the establishment of the special purpose company Saudi Greek Interconnection by IPTO and the Saudi Arabian Transmission System Operator National Grid is highlighted as a first step for the maturation of the project, with the preparation of commercial viability studies of the interconnection project to transport clean energy from North Africa and the Middle East to Europe.

For the Greece-Egypt GREGY electrical interconnection, IPTO in collaboration with the project promoter (ELICA) and the Transmission System Operator of Egypt, contributes to the maturation of the project with the next step being the preparation of feasibility studies in terms of the optimal technical solution. In addition, IPTO is also considering its investment participation in the project, based on the MoU it signed in 2023 with ELICA, regarding the initiation of exclusive discussions for the evaluation of the Operator’s entry into the share capital of the SPV that develops the interconnection between Greece and Egypt .

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SOURCE; ANA-MPA

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