Positive
Project advancing - milestone achieved
High Impact
Major milestone or critical setback
On 7 November 2024, Hellenic Cables (the cables segment of Cenergy Holdings) signed a turnkey contract with IPTO/ADMIE for the design, supply and installation of two new 150 kV submarine cable interconnections in the Greek Ionian Islands, including the 14.8 km Lefkada-Kefalonia link and the 20.4 km Kefalonia-Zakynthos link. The contract is part of IPTO's approximately €99.8 million Ionian Islands 150 kV upgrade programme, co-funded through IPTO's regulated CAPEX and the wider Greek transmission investment plan, and covers engineering, procurement, manufacture at Hellenic Cables' Corinth and Thiva plants, transport, laying of the submarine sections and installation of the onshore underground connections to the existing 150 kV substations on each island. As with other IPTO/ADMIE TSO-led projects (e.g. Cyclades Phase D, Kyllini-Zakynthos), there is no traditional external project-finance FID moment for this programme; the turnkey EPC contract signing commits the capital and functions as the effective financial close for the Lefkada-Kefalonia interconnection upgrade.