The Independent Power Transmission Operator (IPTO) and the Transmission System Operator of Italy (Terna) are jointly submitting a request for the inclusion of the new electricity interconnection between Greece and Italy (GR.ITA II) in the 2nd EU List of Projects of Mutual and Common Interest (PCI/PMI), in the context of the presentation of the candidate PCI/PMI projects to be held in Brussels on March 20, 2025.
As announced, the energy project promoted by the two Operators is of strategic importance at a regional level and has already been included in the most recent ENTSO-E Ten-Year Network Development Plan. The inclusion of the interconnection in the PCI/PMI regime is particularly important as it will ensure the necessary licensing acceleration and the necessary community funding resources for its implementation.
The Greece-Italy interconnection concerns the laying of a new submarine line (Thesprotia - Galatina), which will triple the margin for electricity exchanges from 500 MW today to 1,500 MW.
The project is expected to ensure the long-term convergence of electricity prices between Greece and Italy, enhance the energy security of the two countries and contribute to the further integration of the European electricity market.
The underwater section of the project is estimated at 240 km, while the underground sections in Greece and Italy are 55 km. The new electrical interconnection will be direct current (HVDC) with a transmission capacity of 1,000 MW and voltage source converter technology, which is also used in the innovative Crete-Attica electrical interconnection project recently completed by IPTO.
The project budget for both countries is estimated at 1.85 billion euros and, upon its finalisation, is expected to be included in the preliminary Ten-Year Development Plan 2026-2035 of IPTO. It is noted that the two Operators are in the final stage of discussions for the signing of a Memorandum of Understanding for the further maturation of the project.