
The Electrification of the state-of-the-art STATCOM system at the “Heraklion III” Substation in Crete was successfully completed by the Independent Power Transmission Operator.
This is the first STATCOM installation in the National Electricity Transmission System, which has achieved the control and dynamic regulation of the voltage of the System of Crete.
The operational tests of the controlled static synchronous compensator system (STATCOM) were completed on April 20, 2021 in collaboration with Hellenic Electricity Distribution Network Operator S.A. (HEDNO).
The new installation ensures the stable operation of the system of Crete, allowing the withdrawal of obsolete and polluting local power plants as soon as the island is fully connected to the mainland system.
It is reminded that STATCOM Heraklion is included in the projects of the electricity interconnection between Crete and the Peloponnese and is co-financed with national and community resources.
The President and CEO of IPTO, Mr. Manos Manousakis stated in this regard: “With the construction and operation of STATCOM in Heraklion, Crete, IPTO achieved another milestone for the removal of the energy isolation of the island. In the immediate future, the construction of the Crete-Peloponnese electrical interconnection is expected to be completed in order to enter a phase of test operation. The Administrator continues with dedicationits projects with the aim of shielding and technologically upgrading the power supply system throughout the Greek territory.”


Latest News

Travel Revenues up 5.4% in Dec. 2024: Bank of Greece
Visitors from Germany, Italy and the U.S. made up the bulk of visitors to Greece, while tourists from the EU27 members accounted for 54.6% of the aggregate receipts in December 2024.

Greece’s Retail Sector Turnover Sees 2.4% Growth in 2024
Among the regions, the North Aegean recorded the highest turnover growth in 2024, with a 3.8% increase, followed by Attica with 3%.

Greece Reallocates Emissions Funds, Prioritizing Industry Over Consumers and Green Transition
Greece shifts €152 million in emissions funds to aid energy-intensive sectors like aluminum and steel at the expense of support for consumers, renewable energy and the green transition.

Santorini Tourism Union Demands Emergency Support Amid Cyclades Seismic Crisis
The Greek government is reportedly considering a mini support package for Santorini, to be activated if the island's seismic activity persists for an extended period.

Societe Generale Says Greek Stock Market Appealing
The French multinational bank and financial services company firm highlights notable differences in equity risk premiums between Eurozone core and peripheral countries

Greece a Safe Destination, Says Tourism Minister Kefalogianni
The Minister noted that Santorini was geologically unique, reassuring everyone that the Tourism Ministry was in close cooperation with experts to monitor the situation and take appropriate measures

Life Expectancy Rise in Europe Slows Down – Greece, UK Record Highest Declines: Lancet Medical Journal
Poor diet and lack of physical activity are seen as key factors contributing to the negative trend.

Capital Ship Management and Lloyd’s Register Complete the World’s First Tanker On-shore Power Supply Compatibility Assessment
This innovative project marks a significant step forward in the transition towards sustainable port operations

Greek Airports See 12.6% Surge in Passenger Traffic in January 2025
The steady extension of the tourist season is fueling optimism, highlighting Greece’s strong position as a top global destination

Greek Foreign Minister Gerapetritis to Meet U.S. Counterpart Rubio in the U.S.
Greek FM Gerapetritis will be in the U.S. to speak before the United Nations Security Council in New York on Monday and Tuesday, focusing on the war in Ukraine and developments in Syria.