Commencement of construction works for electrical interconnection of Santorini

Athens, 10 May 2022

Yesterday’s High Voltage Substation Foundation Event at the Monolithos area of Thira successfully marked the commencement of construction works for the electrical interconnection of Santorini. The island’s interconnection aims at achieving local energy efficiency through the island of Naxos, which joined the mainland electricity network already in October 2020. The event was attended by Mr. Antonis Sigalas, Mayor of Thira, Mr. Manos Manousakis, President and CEO of IPTO and Mr. Alexis Alexiou CEO of Cenergy Holdings and Hellenic Cables who, at the press conference organized by the Independent Power Transmission Operator in Santorini, stressed the importance and benefits of connecting the island.

“With the electrical interconnection starting on time, to be completed in the first semester of 2023, we will integrate Santorini, one of the top tourist destinations in the world, to the High Voltage System, ensuring quality electricity from the mainland, with multiple benefits for the local economy and the environment. With this project the Operator enters the fourth and final phase of the Cyclades Interconnection project. By 2024 we will also have interconnected Folegandros, Milos and Serifos; this will be the last step in an 800+ million Euros investment, aiming to shield more than 20 Cycladic islands. The last phase of the Cyclades Interconnection is of major importance for the national energy and environmental objectives, as we estimate that its operation will reduce annual carbon dioxide emissions by about 150 thousand tons and will create a margin of up to 730 MW for the development of new RES”, said Manos Manousakis.

“Hellenic Cables embraces IPTO’s great vision for energy shielding the Greek islands, supporting their interconnection projects. The commencement of the Santorini-Naxos interconnection works marks the first step in securing the energy supply and the environmental upgrading of the island of Santorini, leading to a low-carbon economy. We are very proud that through our cable solutions we decisively contribute to the quality, uninterrupted and environmentally friendly power supply; this will upgrade the lives of both residents and tourists on the island, which is one of the most important travel destinations in the world”, stressed Alexis Alexiou.

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.

Τhis phase 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.)

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 230 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.