IPTO CYCLADES INTERCONNECTION

Promoteur – Intermédiaire Financier

INDEPENDENT POWER TRANSMISSION OPERATOR SA

Lieu

• Grèce

Description

The project concerns the implementation of a subsea cable grid operated at 150 kV that will connect the main Cycladic islands, namely Syros, Tinos, Mykonos and Paros with the mainland interconnected transmission system of Greece.

Objectifs

The main purpose of the project is to substitute the local generation with energy produced by far cheaper and less polluting CCGTs (Combined Cycle Gas Turbine) operated in the mainland system. The project will also support the development in the islands of additional wind and solar generation capacity which, in the current isolated configuration, is already restricted for technical reasons.

Secteur(s)

• Énergie

Montant BEI envisagé (montant approximatif)

EUR 130 million

Coût total (montant approximatif)

EUR 263 million

Aspects environnementaux

The characteristics of the project are such that it is listed neither under Annex I nor Annex II of the EIA Directive. Pursuant to Greek law, EIAs were carried out for all the GIS substations. Environmental permit for the entire project has been granted by the competent Authorities in September 2009, following consultation with the relevant stakeholders and local communities. The EIA studies and the conditions under the permit indicate that, subject to the implementation of the specified mitigating measures, the project would neither have significant adverse effects on the environment nor adversely affect the integrity of any European site in view of the site’s conservation objectives. The project will enable the replacement of the local generation in the islands with energy generated by more efficient and less polluting plants operating in the mainland system and will support the development on the islands of additional wind and solar generation capacity that, in the current isolated configuration, is restricted for technical reasons. In this way the Project will contribute to reducing CO2 emissions.

Passation des marchés

The Bank will require the Promoter to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation (Directive 2004/18/EC and/or Dir. 2004/17/EC and Dir. 2007/66/EC [amending Directives 1989/665/EEC and 1992/13/EEC]), with publication of tender notices in the EU Official Journal, as and where required.

Statut

Signé - 18/09/2014