The European Investment Bank supports IPTO’s North East Aegean interconnection project

The European Investment Bank (EIB) has committed €490 million to finance GO15 member IPTO’s North East Aegean Interconnection project, which aims to end the electrical isolation of five Greek islands—Lemnos, Lesvos, Chios, Samos, and Skyros—by connecting them to Greece’s mainland grid.

Key highlights for this project include:

• 150 kV AC submarine cables and 150 kV gas-insulated substations, linking islands to Nea Santa (Thrace) and Aliveri (Evia).
• Replacing diesel/heavy fuel oil power stations, enhancing reliability, cutting emissions, and boosting renewable energy integration.
• Strengthening energy security and supporting tourism-driven growth.

This project aligns with Europe’s push for sustainable, interconnected energy systems.