Cyclades Interconnection Phase D : Santorini - Folegandros - Milos - Serifos
16 December 2022
Positive
Project advancing - milestone achieved
High Impact
Major milestone or critical setback
The European Investment Bank signed an own-resources loan of about EUR 157 million with Greece’s Independent Power Transmission Operator (IPTO) on 16 December 2022 to co-finance Cyclades Interconnection Phase 4, which links Thira (Santorini), Folegandros, Milos and Serifos to the mainland grid. This development bank financing forms part of the EUR 524 million project cost and supports construction of approximately 350 km of underground and submarine cables to connect the Western and Southern Cyclades to the Greek transmission network.