Neutral
Informational - no clear directional impact
Low Impact
Minor progress or informational
On 23 December 2025, the European Investment Bank (EIB) executed the second 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 second tranche signed was EUR 238 million, the largest of the three tranches and the bulk of the facility. It followed the first tranche of EUR 50 million signed on 17 December 2025 and preceded the final tranche of EUR 202 million signed on 26 January 2026. With this second signature the cumulative signed amount reached EUR 288 million, leaving EUR 202 million to be executed in the final tranche. The facility supports the 150 kV AC cable interconnectors and gas-insulated substations connecting Lemnos, Lesvos, Chios, Samos and Skyros to Greece's mainland grid.