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But operating them is still illegal under the country’s legislation
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The examples, compiled by Beyond Fossil Fuels, can inform and inspire communities and entrepreneurs that still feel trepidation at the prospect of energy transition
The underground rapid transit lines have been under construction for almost two decades due to various project delays
Plus, it has a unique modular design that allows it to be shortened and lengthened like a train
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The European Investment Bank has given a 200-million-euro loan to help Greece establish the electrical interconnection of Crete with Attica
The Independent Power Transmission Operator (IPTO) announced that the Crete-Attica interconnection project will receive financing from the European Investment Bank (EIB). More specifically, IPTO’s subsidiary Ariadne Interconnection signed a 200-million-euro loan agreement with the EIB.
This loan, the EIB reported, can also be further extended by 100 million euros. The Greek State has guaranteed the funding for this project for the duration of 20 years, including a 5-year grace period.
The goal of the Crete-Attica interconnection is to power Greece’s biggest island using energy from the mainland. As such, this project has been termed the ‘largest energy infrastructure project under construction’ in the country.
Its development and completion will have a plethora of economic and environmental benefits. Taking this further, Ariadne Interconnection explains that utility bills will decrease by approximately 400 million euros per year. In addition to this, the project will create jobs and contribute to reducing the country’s carbon footprint.
According to the EIB, the Minister of Environment and Energy Kostas Skrekas commented: “The electrical interconnection of Crete with the mainland is pivotal in achieving our goal to overhaul the electricity system in the next few years. Connecting the largest Greek island with the national electricity transmission network is a decisive step in this direction, as well as in the transition of the country to a low carbon footprint economy.”
On its website, Ariadne Interconnection details how the electrical interconnection will be established. First, AC/DC converter stations will be built in both Attica and Crete. Then, underground and submarine cables will be planted. Lastly, transmission system infrastructure and electrode stations will be constructed.
In total, the project has a budget of 1 billion euros and its funding comes from 3 different sources: bank lending, equity, and EU funding.
EIB’s Vice President Mr. Christian Kettel Thomsen also commented on the project as he noted that “The European Investment Bank is committed to supporting transformational energy investment across Greece. The new EIB 200 million long-term financing backs one of the longest submarine power links in the world essential to increasing transmission of green energy from Crete and increase use of clean energy in Greece.”
Crete-Attica interconnection animated video by the EIB
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The underground rapid transit lines have been under construction for almost two decades due to various project delays
Now you can get your wine in Talence by paying directly in Bitcoin
That’s because the state has to spend money on updating the railway infrastructure rather than subsidizing the cost of the popular pass
Rethinking renewable energy sources for the urban landscape
The examples, compiled by Beyond Fossil Fuels, can inform and inspire communities and entrepreneurs that still feel trepidation at the prospect of energy transition
Now you can get your wine in Talence by paying directly in Bitcoin
The 10th European Conference on Sustainable Cities and Towns (ESCT) sets the stage for stronger cooperation between the EU, national and local level to fast track Europe's transition to climate neutrality.
At least, that’s the promise made by the mayor of Paris, Anne Hidalgo
The underground rapid transit lines have been under construction for almost two decades due to various project delays
At least, that’s the promise made by the mayor of Paris, Anne Hidalgo
Hostal de Pinós is located in the geographical centre of the autonomous region
Despite its church-y name, the district has long been known as the hangout spot for the artsy crowds
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Apply by 10 November and do your part for the transformation of European public spaces
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