ECONOMY

ADMIE signs contract for Greek island electricity supply

Greek electricity grid operator ADMIE, fully owned by the country’s biggest power producer PPC, has signed a 240-million-euro project with foreign and local firms to connect Greek islands with the mainland grid.

France’s Alstom, Switzerland’s ABB, Italy’s Prysmian and Athens-based Hellenic Cables will build power cables under the sea to connect the Greek islands, ADMIE said in a statement.

ADMIE runs about 11,000 kilometers of high-voltage power lines across the country.

Most Greek islands currently lack links to the mainland grid and depend on blackout-prone, oil-fired power stations to provide electricity to millions of tourists visiting each summer.

“We will save 100 million euros a year by linking the Cyclades islands,” said Deputy Environment Minister Makis Papageorgiou 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.

[Reuters]