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...

This story is part of New Europe's Premium content.

To Read the Full Story, Subscribe or Sign In from the ↑ Top of the Page ↑
new europe join now