IPTO NORTH EAST AEGEAN INTERCONNECTION

Promoter – Financial Intermediary

INDEPENDENT POWER TRANSMISSION OPERATOR SA

Location

• Greece

Description

The project will connect the island regions of Lemnos, Lesvos, Chios, Samos and Skyros to the mainland transmission grid through Nea Santa in Thrace to the north and Aliveri on Evia to the east. It will also link them to the Dodecanese islands grid via Mastichari on Kos to the south. The connection will primarily use 150 kV alternating current (AC) cable interconnectors and 150 kV gas-insulated substations (GIS).

Objectives

The project supports the energy and climate policy objectives of the European Union and Greece. It will end the electrical isolation of the islands concerned and provide a more efficient, reliable and cleaner electricity supply compared with the current reliance on local diesel or heavy fuel oil power stations. It will also improve security of supply, increase capacity for connecting renewable energy sources in the region and foster economic development on the islands, particularly through tourism.

Sector(s)

• Energy - Electricity, gas, steam and air conditioning supply

Proposed EIB finance (Approximate amount)

EUR 490 million

Total cost (Approximate amount)

EUR 1628 million

Environmental aspects

Most of the project components fall under Annex II of the Environmental Impact Assessment (EIA) Directive 2011/92/EU as amended by Directive 2014/52/EU, which requires the competent national authority to determine the need for an EIA. The impacts that can be typically expected relate to visual impact, vegetation clearance, collision and electrocution of flying vertebrates, electromagnetic fields, noise nuisance, and disturbances during construction, as well as the possible impacts on protected fauna and flora (Habitats 92/43/EC and Birds 2009/147/EC Directives)

Procurement

The EIB will require the promoter to ensure that contracts for implementation of the project have been and will be tendered in accordance with the applicable EU procurement legislation: Directive 2014/23/EU / 2014/24/EU / 2014/25/EU as well as Directive 92/13/EEC or Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.

Status

Under appraisal - 6/05/2025