Positive
Project advancing - milestone achieved
Medium Impact
Significant progress or notable issue
IPTO/ADMIE has publicly indicated that the tender procedure for the HVDC submarine cable linking Corinth and Kos is due to conclude in Q3 2026, implying selection of the cable system supplier within that window. The cable tender was formalised by EU contract notice DEA-42565 on 31 March 2026 (bids due 24 April 2026), following the unsuccessful 18 November 2024 first tender (€630 million, no bids) and the 22 December 2025 re-launched tender at €1.35 billion. Three pre-qualified subsea-cable suppliers — Prysmian, Nexans and Fulgor — were invited in October 2024 to submit final offers under a six-year framework agreement covering both the Dodecanese and Northeast Aegean interconnections, so the eventual supplier will most likely be drawn from that shortlist. ADMIE confirmed the Q3 2026 conclusion target in its FY2025 investor presentation on 8 April 2026, citing the parallel licensing and expropriation work in progress.