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On April 11, local time, Greek grid operator ADMIE launched an international public tender for the construction of an undersea cable connecting Crete with the Greek mainland power grid, the Crete Link project
.
The project to connect Crete to the Peloponnese is part of a 10-year, 2 billion euro investment plan by the Hellenic Power Grid Company, which aims to connect some of Greece's islands to the mainland
.
Greece said that the "most economically advantageous offer, based solely on the lowest price"
would be awarded through electronic tendering.
Crete, Greece's largest island, currently needs electricity from three oil-fired power plants, which Greece must close to meet EU environmental requirements
.
Energy Minister Stathakis said the project would help "significantly reduce electricity costs", improve Crete's ecological footprint and save the region €215 million a year by, among other things
, lower service fees.
The subsea project is expected to be completed in 2020 with a budget of €324 million
.
Crete would also be connected
to Athens in the later period.
State-controlled grid operator ADMIE was spun off last year from the public power utility under Greece's international bailout program
.
The State Grid Corporation of China, the world's largest utility, acquired a 24 percent stake
.
On April 11, local time, Greek grid operator ADMIE launched an international public tender for the construction of an undersea cable connecting Crete with the Greek mainland power grid, the Crete Link project
.
The project to connect Crete to the Peloponnese is part of a 10-year, 2 billion euro investment plan by the Hellenic Power Grid Company, which aims to connect some of Greece's islands to the mainland
.
Greece said that the "most economically advantageous offer, based solely on the lowest price"
would be awarded through electronic tendering.
Crete, Greece's largest island, currently needs electricity from three oil-fired power plants, which Greece must close to meet EU environmental requirements
.
Energy Minister Stathakis said the project would help "significantly reduce electricity costs", improve Crete's ecological footprint and save the region €215 million a year by, among other things
, lower service fees.
The subsea project is expected to be completed in 2020 with a budget of €324 million
.
Crete would also be connected
to Athens in the later period.
State-controlled grid operator ADMIE was spun off last year from the public power utility under Greece's international bailout program
.
The State Grid Corporation of China, the world's largest utility, acquired a 24 percent stake
.
