Greece, ADMIE will receive a total of 195 million euros in support from Recovery and Resilience Fund

, SEE Energy News

Two network projects developed by Greek electricity transmission system operator ADMIE will receive a total of 195 million euros in support from the country’s Recovery and Resilience Fund.

The projects in question include the fourth and final stage of the Cyclades interconnection to the mainland and the reconstruction of the  Koumoundourou high-voltage substation along with a 400kV transmission line connecting the facility with the Corinth high-voltage substation.

The combined cost of the two projects is 482 million euros. The fourth phase of the Cyclades interconnection, budgeted at 393 million euros, is expected to receive 165 million euros from the Fund, while the Koumoundourou high-voltage substation reconstruction, whose budget is
estimated at 89 million euros, is expected to receive 30 million euros in financing.

Last month, ADMIE said that the investments made in the first nine months of 2021 in the development of key network projects, including
island interconnections, have reached 241.8 million euros, which is by over 100 million euros more compared to the same periods since 2017,
when the operator split from the Public Power Corporation (PPC).

From 2018 to date, ADMIE’s investments in electricity network projects amounted to 1.12 billion euros, which is more than double compared
to 2013-2016 period, when investments reached 489 million euros.