The key role of Crete in international and domestic energy developments with new interconnections being implemented or planned and investments in renewable energy sources and storage was highlighted at two conferences held last week in Athens and Heraklion.
“It is clear that Crete is emerging as an energy crossroads in the region, securing a strategic position for another reason in the geopolitical map of SE Europe. “Large electrical connections being studied in the region, such as with Cyprus and Israel or Egypt and Libya, include Crete,” stressed the vice-president of Independent Power Transmission Operator S.A. (IPTO) Ioannis Margaris, speaking at the Cretan Energy Conference. As he underlined, IPTO, simultaneously with the submarine interconnections, plans investments of 45 million euros for the upgrade of the High Voltage System of Crete within the next three years.
As is known, the “small” interconnection of Chania – Peloponnese has already been put into operation. This covers one third of the energy needs of the island in the summer months and all the needs in the winter. At the same time, the construction of the cables for the “big” connection Heraklion – Attica has begun, as well as the excavations in Attica (in Heraklion will begin in September) with the aim of laying the first section of the submarine cable in the fall. According to Mr. Margaris, in 2024, which will be the first full year of operation of both interconnections, the savings for all consumers in the electricity bills (through the SGIs) will amount to 550 million euros and will reach 1 billion. euros in 2030.
At the same conference, the Vice President of the Eunice Group, George Pechlivanoglou, referred to the project of interconnection of Egypt with Crete, through the Greece Africa Power Interconnector, emphasizing that the exploitation of the Greek-Egyptian EEZ and the close transnational cooperation between the two countries, in terms of strategy and energy historic opportunity for the implementation of innovative projects, which have the potential to change the energy and geopolitical map of the region. He also invited interested parties to cooperate in this, but also in general in the projects of international connections, investments in RES and energy storage, implemented by the Group.
At the Economist conference, the head of Enel Green Power Hellas and President of SolarPower Europe, Aristotelis Hadavas, referred to the company’s investment plans, which he said include projects with a total capacity of 1.5 GW, of which 630 MW are related to the development of Distributed Power Units in Western Macedonia and Crete. “These storage systems, he said, are combined with photovoltaic parks behind the grid, which can contribute to the stability of the electrical system, speed up de-ligation and help achieve national RES targets,” he added.
Hellenic Electricity Distribution Network Operator (HEDNO) CEO Anastasios Manos also referred to the operation of the electrical system after the operation of the small interconnection and presented data according to which already last week about 50% of the demand on the island was covered by the interconnection and renewable sources. established in Crete. Specifically, on July 7, with a peak of demand, 620 megawatts, 73 were covered by the interconnection, 82 MW by photovoltaics, 150 by wind and 315 by the oil units on the island.
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Eurostat: Women and Youth Most Underpaid in Greece
In the EU 18.2% of women are low-paid compared to men, against 23% in Greece. A staggering 43% of young Greeks are low-paid—the second-worst rate in Europe.
Public Services in Greece to Go Under Review with New Rating Tool
Public services will receive their evaluation scores and feedback directly, fostering a system of accountability and continuous improvement.
Istanbul Earthquake – Greek Prof. Concerned Major Quake Yet to Strike
Responding to concerns over whether a potential major quake in Istanbul could affect Greece, Papazachos was reassuring: “The fault extends as far as Lemnos and the Northern Sporades, but it doesn’t rupture all at once. An earthquake in Istanbul doesn’t have the capacity to directly affect Greek territory.”
Greece 4th Most Popular Summer Destination for Europeans
Southern Europe remains the top choice for Europeans at 41%, though down 8% from last year, likely due to rising temperatures and climate concerns.
Easter Sales Performance and the Source of €4–5 Million in Losses
Easter retail sales were relatively weak this year, with the only "real winners" being the livestock farmers who had lambs to sell.
Hotel Foreclosures Continue to Plague Greece’s Islands
A surge in hotel foreclosures across Greece’s islands threatens small tourism businesses, despite booming visitor numbers and record-breaking travel in 2024.
Athens Launches Task Force to Safeguard Historic City Center
The new municipal unit will ensure compliance to zoning laws, curb noise, and address tourist rental issues starting from the Plaka district.
WTTC: Travel & Tourism to Create 4.5M New Jobs in EU by 2035
This year, international visitor spending is set to reach 573 billion euros, up by more than 11% year-on-year
IMF: US Tariffs Shake Global Economy, Outlook Downbeat
IMF slashes global growth forecast to 2.8% as U.S. tariffs create uncertainty and ‘negative supply shock
First Step Towards New Audiovisual Industry Hub in Drama
The project is set to contribute to the further development of Greece’s film industry and establish Drama as an audiovisual hub in the region
![Accor: Η βιωσιμότητα «κλειδί» για την ανάπτυξη και ανθεκτικότητα του ελληνικού τουρισμού [έρευνα]](https://www.ot.gr/wp-content/uploads/2025/04/thumbnail-90x90.jpg)
![Οι αλλαγές που υπάρχουν στα φορολογικά έντυπα για τα εισοδήματα του φορολογικού έτους 2024 από ακίνητα [Γ’ Μέρος]](https://www.ot.gr/wp-content/uploads/2025/03/akinita-600x400.jpeg)
