About us

Ariadne Interconnection S.A. was established in September 2018 as a wholly-owned  subsidiary of the IPTO Group. It is the implementation vehicle of the Attica-Crete interconnection, pursuant to RAE decisions No. 838/2018, 816/2018. Following a competitive bidding process, in November 2024, IPTO signed an agreement for the sale of a 20% stake of Ariadne Interconnection to State Grid International Development Ltd (SGID), which has joined the corporate structure.

For further information refer to RAE DECISION No. 816/2018 and RAE DECISION No. 838/2018.

More info
Project promoter

Ariadne Interconnection (Ariadne Single Member S.P.S.A.)

Project Category

Co-funded Project

Type

Submarine Transmission Line, Underground Transmission Line, Overhead Transmission Line, Converter Station, Substation

Budget

PP 2014-2020: € 630.964.341 – 1st Stage
PP 2021-2027: € 562.995.422 – 2nd Stage

Public expenditure

PP 2014-2020: € 313.273.796 – 1st Stage
PP 2021-2027: € 222.673.500 – 2nd Stage

Operational Programme

Transport Infrastructure, Environment & Sustainable Development 2014-2020 – 1st Stage
Environment and Climate Change 2021-2027 – 2nd Stage

Fund

European Regional Development Fund (ERDF)

 

Benefits

Crete-Attica interconnection will:

Benefits
  • Offer reliable and stable operation of Crete's energy system with significant benefits for tourism and economic activity in general.
  • Mitigate Crete's environmental footprint, due to the gradual reduction of electricity generation from thermal power plants.
  • Reduce energy production cost as well as PSO charges for consumers due to the withdrawal of oil-fired plants.
  • Better utilize wind, solar and other RES potential of Crete.
  • Diminish the need to maintain Reserve Units.
  • Reduce the country's dependence on fossil fuels.

 

 

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ΕΣΠΑ 2021-2027

ΕΣΠΑ 2014-2020