IPTO Advances Renewable Energy and Strategic Autonomy Initiatives in EU
IPTO is enhancing Greece's energy autonomy through significant investments in renewable energy and infrastructure. The company's strategic focus aims to leverage EU renewable sources for energy self-sufficiency amidst a transition period reliant on natural gas.
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IPTO is driving the integration of renewable energy sources in Greece, aiming for energy self-sufficiency and strategic autonomy for the EU. Manousakis highlighted that major interconnection projects have been completed, with new investments planned to connect the Dodecanese and North Aegean islands to the mainland grid and develop GRITA 2, a second interconnection with Italy.
A 1.0-billion-euro share capital increase is underway, reflecting confidence from the Greek government. The European Investment Bank and EU funds are essential for financing these infrastructure projects. Expanded energy storage capacity is expected to lower wholesale electricity prices, although natural gas will remain necessary during the transition.
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