The first financings for the start of important projects concerning the upgrading of electrical networks, increasing their power and undergrounding cables in important areas were approved by a joint ministerial decision of the Minister of Energy Mr. Kostas Skrekas, the Deputy Minister of Finance Mr. Theodore Skylakakis and the Deputy Minister of Investment Development, Mr. Yiannis Tsakiris.
In particular, for projects of the Hellenic Electricity Distribution Network Operator (HEDNO), with a total budget of 386.3 million euros that have been included in the Recovery and Resilience Fund, the method of their financing is defined and the first financing act of a total amount of 112 million euros is approved from the Public Investment Program, so that their auction and construction can begin. The grant concerns part of the total budget for three projects of the Administrator.
Power increase for new RES penetration
The project to increase the installed capacity in high and medium voltage substations (HV and MV) aims at the interconnection of new RES (Renewable Energy Sources) projects, i.e. new photovoltaic or wind plants. The total budget of the project is estimated at 37.2 million euros and can be financed with the amount of 12 million euros.
The project involves increasing the capacity of the grid’s existing substations by 725 MVA in order to address congestion, which currently prevents further investment in “green” energy generation. The increase in installed capacity will be distributed per region as defined by HEDNO in the MV/MT substations as follows: 125 MVA in Attica, 150 MVA in Central Greece, 150 MVA in the Peloponnese and Epirus and 300 MVA in Macedonia and Thrace. The duration of the project implementation is estimated at five years.
Network upgrade in forested areas
The second project concerns the upgrading of the HEDNO overhead line network in forest areas. Its total budget is estimated at 149.8 million euros and will be initially financed with the amount of 40 million euros. It refers to the replacement of bare conductors of an overhead power distribution network with sheathed conductors or twisted cables, the installation of insulating casings and the undergrounding or relocation of the power distribution network that passes through forested areas.
The project will improve the resilience and reliability of the network in terms of the duration or frequency of power outages per customer and will shield it from being a threat to the natural environment (forests, wildlife). It includes displacements and clearing of old networks, construction of new overground and underground (782.8 kilometers will be undergrounded), total length of 2,084.5 kilometers. The duration of the project implementation is estimated at 4.5 years.
Undergrounding and rerouting of networks in important settlements
The third project includes upgrades to the electrical grid with the aim of strengthening its resilience and protecting the environment. Its total budget amounts to 199.3 million euros and will be financed in the first phase with the amount of 60 million euros. It concerns the undergrounding and rerouting of the electricity distribution network in settlements of particular importance, from a cultural or tourist point of view, as well as in urban centers, with priority in areas where the infrastructure is vulnerable to extreme weather events.
It includes the dismantling of the existing medium and low voltage overhead network, a total of 1,845.2 kilometers, as well as its undergrounding and upgrading. The duration of the project implementation is estimated at 4.5 years.
The final budget of the projects, in terms of Public Expenditure, will be formed from the total eligible costs at the completion of the projects, in accordance with the rules of the Recovery and Resilience Fund.
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