Release date: 16 December 2004
Promoter – Financial Intermediary
Public Power Corporation S.A.(PPC) the Greek electric utility.Location
Description
The project comprises the upgrading and extension of transmission and distribution networks throughout the mainland and the islands.
Objectives
The project is designed to cope with the growth of electricity demand in Greece and to facilitate the technical restructuring in response to competitive market forces emerging in the Greek power sector. It will improve the security and quality of electricity supply and reduce system losses, therefore reducing electricity costs as well as promoting the rational use of energy in the country.
Comments
Electricity transmission and distribution.
Sector(s)
Proposed EIB finance (Approximate amount)
Of the order of EUR 600 m
Total cost (Approximate amount)
Of the order of EUR 1200 m
Environmental aspects
The project’s main objective is to improve the quality, efficiency and security of electricity supply in Greece, mainly by reducing the system losses in the transmission and distribution networks. In this respect, the project will promote the rational use of energy in the country.
Procurement
The promoter’s procurement procedures comply with the provisions of the relevant EU Directives, requiring international open tender.
Status
Signed - 8/06/2005