Hellenic Cables, as the temporary contractor of the Santorini-Naxos electricity interconnection

Athens, August 12, 2021

Hellenic Cables, the cable segment of Cenergy Holdings was declared by Independent Power Transmission Operator S.A. (IPTO) the temporary contractor for the section of the Santorini-Naxos electrical interconnection, bidding with an offered price of 79.5 million EUR. The e-auction took place on August 9, 2021. The contractor will be finalized in the coming days, as provided by legal procedures.

The integration of Santorini in the High Voltage System, through Naxos, is part of the 4th phase of the electrical interconnection of the Cyclades which is due to complete in 2024. This is a vital project for the safe electricity supply of Santorini and Thirasia islands, especially during the summer months. The submarine section of the Santorini-Naxos interconnection will have a total length of 82.5 km and will be immersed at a maximum depth of 400 meters.

It includes the design, supply, and installation of submarine and land cables of 150kV for the interconnection of Santorini with Naxos as part of the project of the interconnection of the Cyclades to the National Electricity Transmission System (E.S.M.I.E.)

Mr. Alexis Alexiou, CEO of Cenergy Holdings and Hellenic Cables stated: “The interconnection of Santorini with Naxos is a very important project for the energy shielding of the South Aegean Region, since it aims to solve the major problem that Santorini faces concerning its energy needs. Hellenic Cables through its cables will be able to contribute to the improvement of the environmental footprint of the island due to the drastic reduction of emissions from the autonomous production stations. It is important that we can contribute through our cables to the gradual reduction of the country’s carbon footprint, especially during this difficult period when the presence of climate change is more pronounced than ever.”

Hellenic Cables is one of the largest cable producers in Europe, manufacturing power and telecom cables as well as submarine cables for various industries, including offshore wind and utilities, as well as undertaking turnkey power transmission and distribution projects. Through its fully owned subsidiary Fulgor, Hellenic Cables operates its submarine cables plant in Corinth, Greece, where the production and testing of some of the longest submarine cable lengths without factory joints on a worldwide basis is empowered by the Company’s state-of-the-art facilities and equipment. Since 2012, Hellenic Cables has implemented a EUR 250 million-investment plan for the production of high and extra high-voltage submarine cables at Corinth plant. Hellenic Cables represents the cable production segment of Cenergy Holdings SA. For further information, please visit Hellenic Cables website at www.hellenic-cables.com.

Cenergy Holdings is a Belgian holding company listed on both Euronext Brussels and Athens Stock Exchange, investing in leading industrial companies, focusing on the growing global demand of energy transfer, renewables and data transmission. The Cenergy Holdings portfolio consists of Corinth Pipeworks and Hellenic Cables, companies positioned at the forefront of their respective high growth sectors. Corinth Pipeworks is a world leader in steel pipe manufacturing for the oil and gas sector and major producer of steel hollow sections for the construction sector. Hellenic Cables is one of the largest cable producers in Europe, manufacturing power and telecom cables as well as submarine cables for the aforementioned sectors. For more information about our company, please visit our website at www.cenergyholdings.com.