IPTO to Raise €1 Billion for Major Power Projects and Grid Enhancements
Greek power grid operator IPTO plans a €1 billion capital increase to support significant domestic and international projects, as stated by CEO Manousos Manousakis. The Greek state holds a 51% stake in IPTO, while China's State Grid owns 24%. The funding will facilitate projects including interconnections with islands, Italy, and a power cable linking Israel, Cyprus, and Greece, along with improvements to the mainland grid's resilience.
Theia Market Signal Identification - AI Assisted
IPTO, the Greek power grid operator, is set to initiate a €1 billion capital increase to finance key projects, as confirmed by CEO Manousos Manousakis. The Greek government, holding a 51% stake, and China's State Grid, with 24%, will participate in the share sale.
Major projects include connecting islands in the Aegean Sea to the mainland, a €4.2 billion initiative, a €2 billion second interconnection with Italy, and a €1.9 billion cable linking Israel, Cyprus, and Greece. The funds will also enhance the mainland grid's physical and digital resilience.
Comments