Northern Aegean Interconnection Phase A : Thrace - Limnos
17 December 2025
Positive
Project advancing - milestone achieved
High Impact
Major milestone or critical setback
On 17 December 2025, the European Investment Bank (EIB) executed the first tranche signature of its EUR 490 million loan agreement with the Independent Power Transmission Operator (IPTO) for the North East Aegean Interconnection programme, which includes the Phase A Thrace-Limnos 150 kV AC submarine link. The first tranche signed was EUR 50 million; two further tranches were subsequently signed (EUR 238 million on 23 December 2025 and EUR 202 million on 26 January 2026), bringing the cumulative signed amount to the full EUR 490 million facility. The signature followed the EIB Board approval recorded on 12 December 2025. The financing supports the 150 kV AC cable interconnectors and gas-insulated substations connecting Lemnos, Lesvos, Chios, Samos and Skyros to Greece's mainland transmission grid via Nea Santa in Thrace and Aliveri on Evia.