Prysmian Has Announced It Will Invest €156 Million To Develop New Submarine Power Interconnection In The Greek Cyclades Islands
A consortium of 160 Greek companies that produce a wide range of products and services, ranging from industrial electronics to software solutions in their bid for €150M.
The new power transmission cable system will cut CO2 emissions, ensuring a more sustainable and reliable energy supply to Milos, Folegandros and Santorini. The Prysmian Group is a world leader in the field of energy cables and has been awarded the contract to link the islands of Milos, Folegandros and Santorini.
The announcement comes after a lengthy process of evaluation and approval. This new connection comes as part of Phase D of the Cyclades electrical interconnection which is taking place in order to bring the islands into single electricity supply with the mainland. For businesses, this will provide benefits such as cheaper prices.
The whole project comprises two submarine power links: The first will connect the Greek island of Lavrio, near Athens, to the island of Milos, passing through the Greek islands of Serifos and Folegandros.
Prysmian Group will be responsible for designing, supplying, installing, and commissioning the HVAC 150-kV three-core submarine cable. The submarine route is approximately 130 km and the land route is 10 km. They will also produce their cables at one of their qualified plants. This project is scheduled to be delivered by 2025.
The Cyclades Islands Interconnection Project will create a more efficient and less-polluting energy supply. It will also exclude the use of coal plants on the islands, which are deemed to have reached their end of life and are no longer environmentally sustainable. The project will help phase out dependency on fossil fuels, thereby reducing CO2 emissions for each islander by an average of about 35 tons per year.
With the trust IPTO places in us, with this contract, the Group is confirming that it is still the leader of submarine cable interconnection in the Mediterranean area, and that the technology validation at Prysmian is sound. The new submarine cable system will increase and ensure a robust and reliable power transmission plant for all of Cyprus.
Prysmian has an extensive history in the development and installation of submarine interconnection projects across the entire Mediterranean deep water region. The Italy-Greece, Sardinia-Italian Peninsula (SA.PE.I.), two interconnections between Spain and Morocco, two projects in Spain’s Balearic islands, Capri-Torre Annunziata and Capri-Sorrento in Italy, Dardanelles link in Turkey and Crete-Peloponnese (Taboo) have all been awarded to Prysmian as its trusted partner by IPTO.