wiredinUSA October 2014

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Greek power extension Greek electricity grid operator ADMIE, fully ownedbyPPC, thecountry’s biggest power producer, has contracted with foreign and domestic companies to connect the Greek islands with the mainland grid. The $310.39 million project will see Alstom, ABB, Prysmian and Athens-based Hellenic Cables build subsea power cables to connect the islands. ADMIE runs approximately 11,000km of high-voltagepower linesacross thecountry. Most Greek islands currently lack links to the mainland grid and depend on oil-fired power stations to provide electricity. “We will save 100 million euros ($129.31 million) a year by linking the Cyclades islands,” deputy environment minister

Makis Papageorgiou said in a statement. “We are also shielding one of the most dynamic sectors of our economy (tourism) because this project will put an end to possible power blackouts at our country's main tourist destinations,” he added. The project is expected to be completed within two years. PPC is selling a 66 percent stake in ADMIE, for which Belgian power grid operator Elia, State Grid Corporation of China, Italian grid operator Terna and Canadian pension fund PSP Investments have been shortlisted to bid. Athens hopes the eventual buyer will invest in extending its grid to several islands, and to lay new connections to neighboring countries.

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wiredInUSA - October 2014

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