Neutral
Informational - no clear directional impact
Low Impact
Minor progress or informational
On 26 January 2026, the European Investment Bank (EIB) executed the third and final 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 C Lesvos-Skyros 150 kV AC submarine loop-closure link. The full loan was signed across three tranches per the EIB project record: EUR 50 million on 17 December 2025, EUR 238 million on 23 December 2025, and EUR 202 million on 26 January 2026. With the final tranche signature complete, the full EUR 490 million EIB facility is now available for drawdown by IPTO, complementing 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, with a southern link to the Dodecanese grid via Mastichari on Kos.