Greece’s power grid operator ADMIE has launched an international open tender for a project linking the island of Crete to the mainland grid via undersea cables. The power link is expected to be finalized by 2020.
Giorgos Stathakis, the energy minister, announced that this tender, via an e-auction, will be awarded to the “most economically advantageous offer, based solely on the lowest price,” Greek media reports.
Stathakis said the project would help significantly reduce electricity costs, improve island’s ecological imprint and lead to EUR 215 million in annual savings.
The link from the largest Greek island to the Peloponnese is expected to be completed by 2020. Its budget is EUR 324 million, the ministry said.
The plan is to connect Crete also to Athens in a later phase.
Linking Crete to the Peloponnese peninsula is part of a 10-year-long and EUR 2 billion worth project aiming to connect some of Greece’s islands to the mainland.
Currently, the power production on Crete is provided by three oil-fired plants. All of them must be shut down to comply with a European Union directive.