Published by Global Banking & Finance Review®
Posted on January 21, 2025
1 min readLast updated: January 27, 2026
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IPTO invites Fulgor, Nexans, and Prysmian to bid on a 1.7 billion euro project to supply undersea cables connecting Greek islands to the mainland.
ATHENS (Reuters) - Greece's power grid operator IPTO has invited Fulgor, Nexans Norway and Prysmian Powerlink to submit binding bids for the supply of undersea cables to link some Greek islands to the mainland grid, it said on Tuesday.
The contract, with an initial estimated cost of 1.7 billion euros ($1.76 billion), will be awarded based on the best financial offer, the operator said in a statement.
The winner will have to build cables that will supply power to the Aegean islands of Kos, Rhodes, Karpathos, Lemnos, Lesbos, Skyros, Chios and Samos, the statement added.
IPTO plans to spend hundreds of millions of euros in power links to many Greek islands, some of which still rely on costly and polluting oil-fired power plants and struggle to match demand during the peak summer tourist season.
($1 = 0.9664 euros)
(Reporting by Angeliki Koutantou; Editing by Bernadette Baum)
The article discusses IPTO's invitation for bids to supply undersea cables connecting Greek islands to the mainland.
Fulgor, Nexans Norway, and Prysmian Powerlink have been invited to submit bids.
The project has an initial estimated cost of 1.7 billion euros.
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