The completion of the electricity interconnection between the Peloponnese and the island of Crete sends a positive signal to both the Greek and international markets about the Independent Power Transmission System Operator ADMIE, the company’s deputy chairman, Ioannis Margaris told AMNA.
He noted that the Heraklion-Attica interconnection will come next and will end power production using expensive and polluting power plants on the island.
Margaris said the project needed special equipment as it had broken a number of records.
It is the longest submarine/underground cable interconnection in the world (174 km), while the maximum immersion depth (1,000 meters) places it at the top of the most technically demanding electrical interconnection projects worldwide.
"The electricity connection between Crete and the Peloponnese is now a reality. It will initially cover 1/3 of the island's energy needs, replacing old, expensive and polluting local units," Greek Prime Minister Kyriakos Mitsotakis tweeted.
"When completed, CO2 emissions for the electrification of Crete will be zero, reducing the cost of electricity, Congratulations to ADMIE for this important infrastructure project," he added.
The manufacture of cables and equipment for the Heraklion-Attica subsea link has already begun, which aims to be completed by 2023.
The estimated cost savings from power production are calculated to reach €400 million annually, helping to lower costs for consumers.
On his part, the Minister of Environment & Energy, Mr. Kostas Skrekas, stated: “This is a project of the utmost importance for the whole country, but especially for the island of Crete where the energy demand during the summer months increases dramatically. By continuing the implementation of our island interconnections' strategic plan with mainland Greece, citizens will benefit financially from the reductions in electricity prices through the PSOs while, at the same time, we manage to substantially reduce carbon dioxide emissions, thus contributing to the protection of the environment."