Greek power grid and ABB signed a contract of 1.9 billion submarine cable projects

       Greek power grid operator ADMIE has signed a contract with a total of 240 million euros (about 1.9 billion yuan) of submarine power cable project with Alstom of France, ABB of Switzerland, Prysmian of Italy and Greek cable of local enterprise. Greek islands and the mainland power grid.

At present, ADMIE Grid Corporation owns and operates more than 11,000 kilometers of high-voltage transmission line network in Greece. However, most Greek islands currently lack the power connection to the mainland's main network, relying solely on the island's fuel-fired power stations to provide limited electricity to millions of tourists each summer.

The Deputy Minister of the Environment of Greece, Makis Papageorgiou, said, “If the power connection with the Cyclades can be achieved, the country can save about 100 million euros a year. It also protects a major pillar of our economic development, that is, tourism. The deployment of a power cable connection project will end the power cuts of our domestic tourist attractions and greatly promote the development of local tourism."

Tourism is Greece's most profitable industry, and its income accounts for about 20% of national GDP.

Although the submarine power cable project has been stagnant for at least 20 years after launching the feasibility study, the signing of the recent contract means that it will be completed and put into production within two years.