Positive
Project advancing - milestone achieved
High Impact
Major milestone or critical setback
On 16 December 2022, the European Investment Bank signed two loan tranches of EUR 65 million and EUR 250 million, totalling EUR 315 million, with Independent Power Transmission Operator SA (IPTO) to finance the IPTO Cyclades Interconnection Phase 4 project, which extends the mainland grid from Lavrio to the Cyclades islands including Serifos. The amortising EIB loan with a long tenor and substantial volume supports the project’s investment needs and diversifies IPTO’s funding sources, underpinning the interconnection of Western and Southern Cyclades with the Greek transmission network via Lavrio.