![IPTO – Terna: A joint investment scheme for the new Greece-Italy electricity connector](https://www.ot.gr/wp-content/uploads/2021/07/thumbnail_IMG-1710.jpg)
The investment plan for the construction of the second electricity interconnection between Greece and Italy is maturing through actions by the electricity transmission managers of the two countries IPTO and Terna.
In fact, in order to better coordinate the actions of the companies, the two managing directors Manos Manousakis and Stefano Donnarumma met last Monday in Rome, and confirmed the results of the studies carried out for the project by the competent Management Development Directorates.
According to information, Mr. Manousakis and Mr. Donnarumma expressed their desire to implement the second underwater electricity interconnection between the two countries with a length of 200 km and a capacity of 500 – 1,000 MW. Sources want IPTO and Terna to agree on the joint investment for the project and for this purpose they are preparing the establishment of a consortium that will implement it.
The second interface is necessary
The project is considered necessary for the electricity transmission systems of Greece and Italy, both in the context of strengthening security of supply and in achieving European targets for the reduction of gaseous pollutant emissions through electricity. The second interconnection will allow the development of more RES projects, while at the same time it will offer conditions for greater liquidity in the electricity stock markets, especially in Athens, which started operating last November.
Greece and Italy have been interconnected since 2002 with a 500 MW submarine cable manufactured by Terna. Another difference between the new project and the existing infrastructure is that it will be developed with a joint investment of the two Managers.
Regulators and funding
The relevant decisions of the Regulatory Authorities of the two countries are required for the establishment of the scheme and the search for funding. According to information, Mr. Manousakis and Mr. Donnarumma, in order for the project to receive “flesh and blood” and on a commercial level, will coordinate their steps in order to notify the plans of the two Administrators to the Regulators with the request that the cable be included in their Regulated Assets. companies. In this way, the cost-benefit study that the Regulators will carry out will make it possible for the Administrators to seek sources of funding for the project.
Investment programs
So far IPTO and Terna have included the project in the development programs of the transmission systems of Greece and Italy. In fact, the management of Terna presented its investment plan for 2021 last week, having planned the execution of this project. According to the announcement of the Italian Administrator, his plan is to invest 750 million euros for a cable with a capacity of 500 MW and a length of 200 km.
IPTO has also planned the second electrical interconnection in the ten-year development plan 2022-2031 which is for approval at RAE.
As for the start time of the construction works, initial estimates point to 2024.
They also want information from IPTO that has requested the increase of the cable capacity close to 1,000 MW, a request which Terna is open to discuss. The Greek Administrator, according to information, is seeking greater capacity in the context of the planning it is doing to strengthen the high voltage system in Northwestern Greece and the interconnection with Albania.
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
Latest News
![Eurostat: Greece’s Airbnb Bookings Surge 28.7% in Q4 2023](https://www.ot.gr/wp-content/uploads/2024/07/airbnb-gba8e58468_1280-1-600x500.jpg)
Eurostat: Greece’s Airbnb Bookings Surge 28.7% in Q4 2023
Greece's growth in short-term bookings in Q4 2023 on platforms like Airbnb outpaced the EU average, recording a 28.7% increase compared to Q4 2022, higher than the EU's average growth of 22.7%
![FinMin: Only One Investor Expressed Interest in Attica Bank](https://www.ot.gr/wp-content/uploads/2021/04/EVT_ATTICA_BANK_1_med-600x345.jpg)
FinMin: Only One Investor Expressed Interest in Attica Bank
Economy and Finance Minister Kostis Hatzidakis added: If deal for Attica Bank, Pancreta Bank falls through then both institutions risk collapse
![Greek Tourism Board Teams Up with Netflix to Promote Greece](https://www.ot.gr/wp-content/uploads/2024/07/shutterstock_2049678176-2048x1365-1-600x400.jpg)
Greek Tourism Board Teams Up with Netflix to Promote Greece
Through its partnership with Netflix, the GNTO hopes to attract tourists and filmmakers to Greece.
![Greece Launches AI Training for Public Servants](https://www.ot.gr/wp-content/uploads/2024/07/ot_artificial_intelligence-1024x600-1-768x450-1-600x352.png)
Greece Launches AI Training for Public Servants
Public sector employees in Greece will be trained in AI as part of efforts to accelerate the country’s digital transition.
![Eurobank Declares Dividend after 16 Years](https://www.ot.gr/wp-content/uploads/2024/06/eurobank-600x373.jpg)
Eurobank Declares Dividend after 16 Years
He noted the bank's strong presence in its international markets, Bulgaria and Cyprus, and mentioned that a public offer to acquire 100% of Hellenic Bank is underway in Cyprus.
![Energean Advances Development of Katlan Gas Field in Israel](https://www.ot.gr/wp-content/uploads/2024/07/thumbnail_Οι-άδειες-της-Energean-στην-Αν.-Μεσόγειο-και-οι-πιθανές-οδεύσεις-φυσικού-αερίου-1-600x530.png)
Energean Advances Development of Katlan Gas Field in Israel
The Katlan project is expected to unlock additional value in Israeli waters, enhancing energy security and supporting sustainable development in both Israel and the wider region.
![Uber: Tourism Season in Greece Expanding](https://www.ot.gr/wp-content/uploads/2024/07/EEVMTS_TOYRISTES_ATHINA-8-2048x1365-1-600x400.jpg)
Uber: Tourism Season in Greece Expanding
Uber, the US-based multinational said use of the app to hail a ride in Greece last April was up 72% compared with April 2023
![EU Commission Draft Report Includes Negative Remarks over Rule of Law in Greece](https://www.ot.gr/wp-content/uploads/2024/06/EU_flags_european_reuters_Yves_Herman-768x480-1-600x375.jpg)
EU Commission Draft Report Includes Negative Remarks over Rule of Law in Greece
The Commission report, which is expected to be released this week, highlights issues regarding the operation of the justice system, independent authorities, freedom of the press and the wiretapping case
![Two Greek Ferry Captains Arrested for Maritime Law Violations](https://www.ot.gr/wp-content/uploads/2024/07/ferry-600x411.jpg)
Two Greek Ferry Captains Arrested for Maritime Law Violations
A tale of two captains: One causes massive waves on a Mykonos beach, while another departs early from Santorini, leaving behind seven passengers
![Eurostat: Greece Still Has Highest Debt-to-GDP Ratio in EZ](https://www.ot.gr/wp-content/uploads/2024/07/euros2-1-600x338.jpg)
Eurostat: Greece Still Has Highest Debt-to-GDP Ratio in EZ
At the same time, the formerly bailed east Mediterranean country records the biggest decrease in debt-to-GDP, on a quarterly basis