Ariadne Interconnection SPLC, a special purpose company owned by the Independent Power Transmission Operator (IPTO or ADMIE) S.A., has signed a EUR400 million (US$453.6 million) loan agreement with the Eurobank for the development of the Crete – Attica Electrical Interconnection Project.
The Crete-Attica HVDC Interconnection Project includes a bipolar HVDC cable, between Crete and Attica, with a rated power of 1000 MW (2 × 500 MW). The HVDC cables, approximately 328 kilometers long, runs from Megara beach to the Korakia beach.
The common bond loan has a repayment period of ten (10) years with a possibility of partial withdrawals according to the implementation course of the interconnection. In addition to bank lending, the project will be implemented using the equity of EUR200 million (US$226 million) while the co-finance of Greece and the European Union under the operational program "Competitiveness, Entrepreneurship, Innovation 2014-2020" or/and its following program, will be used for the remaining EUR400 million (US$452.08 million).
Country updates
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July 02, 2020
HRADF launches tender for concession of an underground natural gas storage in the South Kavala
The Hellenic Republic Asset Development Fund (HRADF), following the decision of its Board of Directors, has launched an international public tender process for the concession of the use, development,...
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May 26, 2020
NKT awarded turnkey order for the Attica-Crete interconnector project
NKT has been awarded the delivery and installation of the onshore power cable systems for the Attica-Crete interconnector project. NKT has secured the contract award with the project owner Ariad...
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April 07, 2020
547 Energy, Enora win PPA for 153 MW wind project in Imathia and Kozani
547 Energy, LLC, the renewable energy platform of Quantum Energy Partners, in partnership with ENORA S.A., has been awarded a 20-year power purchase agreement (PPA) by Greece’s Regulatory Author...
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March 25, 2020
Greece receives 9 bids for DEPA Commercial privatization
The Government of Greece has received nine bids for the sale of about 65% stake in the dominant gas supplier DEPA Commercial owned by the Hellenic Republic Asset Development Fund (HRADF) and Hell...
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March 25, 2020
Greece receives nine bids for DEPA Commercial privatization
The Government of Greece has received nine bids for the sale of about 65% stake in the dominant gas supplier DEPA Commercial owned by the Hellenic Republic Asset Development Fund (HRADF) and Hell...
Read more
