Friday, 9 May 2025
No Result
View All Result
eudebates.tv
  • EU Policies
  • World
  • Special Debates
  • Events
  • Vote & Polls
eudebates.tv
No Result
View All Result

Greece: EIB co-finances Crete-Attica interconnection

EUdebates Team by EUdebates Team
11/03/2021
in Environment & Energy
Reading Time: 3 mins read
0
Ariadne Attica Crete Interconnection
131
SHARES
1.3k
VIEWS
Share on FacebookShare on Twitter
ADVERTISEMENT

Join EU debates

REPowerEU to get rid of the dependencies of Russian fossil fuel

SDGs will address ‘three planetary crises’ harming life on Earth

Forests will restore our relationship with the natural world

Climate Change: Τhe arrival of the Arctic tern bird may delay

European Investment Bank (EIB) co-finances Crete-Attica interconnection, a project with a total budget of 1 billion euros in Greece. The Independent Power Transmission Operator announced the participation of the European Investment Bank (EIB) in the financing of Crete-Attica interconnection. The project will be implemented by IPTO’s fully owned subsidiary “Ariadne Interconnection”.

“Ariadne Interconnection” and EIB signed a 200-million-euro loan agreement, with the option of extending the funding by 100 million euros. The funding is guaranteed by the Greek State and has a duration of 20 years, including a 5-year grace period. The possibility of EIB’s participation in the financing of the project was provided as an option in the loan agreement signed in July 2020 with Eurobank, which was activated ensuring even better financing terms.

EIB co-finances Greece

Crete-Attica power energy interconnection

Crete-Attica interconnection is the largest energy infrastructure project currently under construction in Greece. Its financing comes from three sources: bank lending, equity and EU funding. The equity amounts to 200 million euros. As to the bank lending, the project is now co-financed equally by Eurobank and EIB (with 200 million euros each). For the remaining amount of 400 million euros, the co-financing tools of Greece and the European Union will be deployed.

Minister of Environment and Energy, Kostas Skrekas, commented: “The electrical interconnection of Crete with the mainland is pivotal in achieving our goal to overhaul the electricity system in the next few years. Connecting the largest Greek island with the national electricity transmission network is a decisive step in this direction, as well as in the transition of the country to a low carbon footprint economy”.

EIB secures co-financing terms in Greece

Mr. Manos Manousakis, President and CEO of IPTO, pointed out: “The participation of EIB secures even better financing terms for the flagship project of Crete’s interconnection to the mainland grid, while it reaffirms the confidence of the European bank in the projects of IPTO. We are particularly satisfied with the implementation progress of the project, which brings significant economic and environmental benefits for all citizens of Greece”.

Mr. Christian Kettel Thomsen, European Investment Bank Vice President, commented: “The European Investment Bank is committed to supporting transformational energy investment across Greece. The new EIB 200 million long-term financing backs one of the longest submarine power links in the world essential to increasing transmission of green energy from Crete and increase use of clean energy in Greece.

EIB co-financing Greece

The EIB has worked with Greece since 1963. We helped many small businesses in an economy badly hurt by the financial crisis. We built better roads and made transport more sustainable. One key example of our work is the Athens metro, which helps 130,000 people a day get around the city. The Bank has given Greece several “framework” loans worth several billion euros to help schools, museums, tourism and the environment.

eudebates EIB co-finances in Greece

Share this debate with your friends!
Follow #eudebates on Google News and on Facebook
Tags: Energyenergy live newsEnergy newsEnergy UnionEuropean Investment BankGreeceInvestInvestmentInvestment PlanMediterraneanMediterranean seaSustainable Infrastructure
Share52Tweet33

Related EU debates

pump jack oil diesel
Environment & Energy

REPowerEU to get rid of the dependencies of Russian fossil fuel

08/03/2022
Making peace with nature
Environment & Energy

SDGs will address ‘three planetary crises’ harming life on Earth

15/05/2021
Tree Forest Sky
Environment & Energy

Forests will restore our relationship with the natural world

15/05/2021
Iceland ICE water sea ocean sunset
Environment & Energy

Climate Change: Τhe arrival of the Arctic tern bird may delay

14/05/2021
pollution-industry smoke CO2 carbon
Environment & Energy

Low methane greenhouse emissions to achieve global climate goals

13/05/2021
Hintersee Lake of Ramsau
Environment & Energy

Zero pollution action plan for European air, water and soil

13/05/2021

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

SOTEU 2022 - State of the Union speech

Watch State of the Union live: Ursula von der Leyen gives 2022 address #SOTEU

14/09/2022
Volunteers preparing food for Ukrainian refugees arriving at Berlin Central Station

EU steps up solidarity with refugees fleeing Ukraine

08/03/2022
pump jack oil diesel

REPowerEU to get rid of the dependencies of Russian fossil fuel

08/03/2022
Ursula von der Leyen President of the European Commission

EU sanctions against Russia following the invasion of Ukraine

26/02/2022
Finnish PM Sanna Marin

Finland: NATO membership ‘will change’ after Russian invasion

24/02/2022
NATO - EU joint Press Conference

EU responds to Russia’s invasion of Ukraine with massive sanctions

24/02/2022
  • Social Media Facebook twitter

    DeleteFacebook? What is the best Facebook european alternative?

    268 shares
    Share 107 Tweet 67
  • Travelling in Europe with COVID19 country colour travel code zones

    238 shares
    Share 95 Tweet 60
  • Why don’t Mediterranean boat migrants take the plane? Why don’t refugees fly?

    222 shares
    Share 89 Tweet 56
  • EU nasty and vindictive? Nigel Farage criticizes EU vaccines strategy

    202 shares
    Share 81 Tweet 51
  • Burkini Debate: To Ban or Not to Ban the Burkini, Burka and Niqab in EUROPE?

    193 shares
    Share 77 Tweet 48

Join eudebates newsletter!

Enter your email to receive our newsletter.

Don't worry, we don't spam
eudebates_logo

Follow us on social media:

Recent News

  • Watch State of the Union live: Ursula von der Leyen gives 2022 address #SOTEU
  • EU steps up solidarity with refugees fleeing Ukraine
  • REPowerEU to get rid of the dependencies of Russian fossil fuel
  • EU sanctions against Russia following the invasion of Ukraine
  • Finland: NATO membership ‘will change’ after Russian invasion

Newsletter

Join eudebates newsletter!

Enter your email to receive our newsletter.

Don't worry, we don't spam
SOTEU 2022 - State of the Union speech

Watch State of the Union live: Ursula von der Leyen gives 2022 address #SOTEU

14/09/2022
Volunteers preparing food for Ukrainian refugees arriving at Berlin Central Station

EU steps up solidarity with refugees fleeing Ukraine

08/03/2022
pump jack oil diesel

REPowerEU to get rid of the dependencies of Russian fossil fuel

08/03/2022
  • Home
  • EU Policies
  • Special Debates
  • Events
  • Vote & Polls
  • Video

© 2022 eudebates - EU debates, dialogue, communication for a better Europe - Privacy Policy.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • EU Policies
  • World
  • Special Debates
  • Events
  • Vote & Polls

© 2022 eudebates - EU debates, dialogue, communication for a better Europe - Privacy Policy.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. Visit our Privacy and Cookie Policy.