Construction Other

ADMIE Holdings FY2025 annual results report (published April 2026) provides a comprehensive progress update on Cyclades Phase D. All submarine high-voltage cables have been laid and protected: Lavrio-Serifos cable laid February 2024, Serifos-Milos cable laid May 2024, protection works for both completed July 2024, Milos-Folegandros and Folegandros-Thira cables laid February 2025, protection works for both completed June 2025. GIS substation construction on Santorini, Folegandros, Milos and Serifos is progressing with the Santorini substation approaching completion. The Santorini-Naxos connection (first segment) has a completion horizon of H1 2026. The full southwest Cyclades integration (Folegandros, Milos, Serifos) targets H2 2026. Capital expenditure on Cyclades interconnection works in FY2025 totalled EUR 106.6 million. The project is co-financed by the Recovery and Resilience Fund Greece 2.0 with EUR 103.5 million and supported by EIB loans totalling EUR 265 million. Once complete, the interconnection will enable development of RES plants with a total capacity of 332 MW across the Cyclades islands.