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.
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Vardis Vardinogiannis: ‘On a Ship’s Bridge You Always Look Forward’
Ten milestones in the half century since the creation of Motor Oil Group, as described by Vardis Vardinogiannis, who passed away on Tuesday at the age of 91
DBRS Says Greek Banks ‘Shielded’ from ECB Rate Cuts
The agency explains that fund disbursements through the banking sector will help offset pressures anticipated on interest margins beginning in 2025, due to expected rate cuts by the European Central Bank (ECB).
Meta Cuts Facebook and Instagram Subscription Fees by 40%
The social media giant also revealed that it will continue to offer free access to Facebook and Instagram for EU users, provided they agree to see ads based on a limited set of user data.
Skyrocketing Use of Debit, Credit Cards
The total value of the transactions conducted with debit and credit cards in the country in the first half of 2024 rose 2% on the corresponding period of 2023
JP Morgan Revised Greece Outlook to ‘Overweight’
The investment bank notes that Greece is showing the strongest GDP growth in the Eurozone. Additionally, efforts to clear up bank balance sheets are anticipated to yield increased capital returns.
Vardis I. Vardinogiannis, Greek Tycoon and Shipping Magnate, Dies at 91
In 1990, Vardinogiannis was targeted in an attack which involved three rockets fired at his vehicle by the terrorist organization 17 November.
Kudos for Greek Sheep’s Milk Cheeses
Graviera is the Greek version of the Swiss gruyère, and is generally considered the second most popular cheese made in the country after feta
EIB Survey: Greeks Rank Climate Change as Top Concern After Cost of Living
Specifically, 98% of the Greeks surveyed stated that the country must to adapt to climate change, with 60% saying that priority should be given to these adjustment measures
Trump Tells Putin not to Escalate Ukraine War during Phone Convo
Meanwhile, President Joe Biden, is preparing to lobby Trump against abandoning U.S. support for Kyiv
Former Thessaloniki Mayor Yiannis Boutaris Dies at 82
Boutaris entered politics in 2010, serving as the 60th mayor of Thessaloniki for two consecutive terms until 2019, becoming a transformative figure with his progressive policies.
