ATHENS - The Greek island of Crete took a step closer towards energy independence and cutting CO2 emissions on 9 May, following a deal between Greece’s Independent Power Transmission Operator (IPTO or ADMIE) and the European Investment Bank (EIB) with the latter agreeing to provide a €178 million loan to finance an underwater cable power interconnector between Crete and the Peloponnese.

The new 132-kilometer underwater interconnection will ensure the energy security and provide one-third of C...


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