Positive
Project advancing - milestone achieved
High Impact
Major milestone or critical setback
On 23 December 2020, the European Investment Bank (EIB) signed financing for the Ariadne Attica–Crete Interconnection, the electricity link between Crete and the Attica region of Greece. The project page records a signature status of "Signed" with a signature amount of €300 million, confirming execution of the EIB loan on that date. The promoter is Independent Power Transmission Operator SA, which is developing a 1,000 MW, ±500 kV HVDC submarine interconnection of about 328 km, plus associated transmission assets linking Crete to the mainland grid. The EIB capital support forms part of a total project cost of approximately €1,074 million and is intended to help replace oil‑fired thermal generation on Crete with more efficient mainland generation and to increase the island’s capacity to host renewable energy sources. This signature marks the formal award of EIB debt financing for the Crete–Attica interconnector project.