x

Economy

Margaris: Completion of Crete Interconnection Sends Positive Signals

ATHENS — The completion of the electricity interconnection between the Peloponnese and the island of Crete sends a positive signal to both the Greek and international markets about the Independent Power Transmission System Operator ADMIE, said the company's deputy chairman, Ioannis Margaris.

In statements to the Athens-Macedonian News Agency following the successful test electrification of all sections of the project, both on land and the subsea cable linking Crete to the mainland power grid, he noted that the Heraklion-Attica interconnection is to follow, which will end power production using the expensive and polluting power plants on the island.

Margaris said the project needed special equipment as it had broken a number of records. Apart from being the longest subsea AC interconnection in the world with a total length of 174 km, it was also the deepest at 1,000m, making it one of the most technically challenging projects of its kind worldwide.

The manufacture of cables and equipment for the Heraklion-Attica subsea link has already begun, he said, with the aim of completing the project within 2023. The estimated cost savings from power production are calculated to reach 400 million euros annually, helping to lower costs for consumers.

Video and photos are available on the ANA subscriber page. Alternatively, video footage can be viewed here:

RELATED

ATHENS — Credit ratings company Fitch has revised Greece’s outlook to positive from stable, although it kept the country’s rating at BB, two notches below investment grade.

Top Stories

United States

JANUARY 14-17 GLENBROOK, NV – The Greek Orthodox Metropolis of San Francisco 2022 Young Adult Winter Retreat ‘Citizens of the Desert: Embracing Our Role as Christian Witnesses to Our World’ takes place January 14-17, Martin Luther King weekend, at Lake Tahoe, the Galilee Camp and Conference Center, 1776 U.

Associations

CHICAGO – The Greek Women’s University Club (GWUC) celebrated the organization’s 90th anniversary and the launch of the Hellenic Revolution’s 200th anniversary with a scholarship presentation to three female students on December 29th at Jameson’s Charhouse.

Cinema

The long-awaited historical epic film My Beloved Smyrna (Σμυρνη Μου Αγαπημενη)  has arrived in Greek cinema theaters after a glamorous premiere at the Megaron - Athens Concert Hall.

Video

TNH’s Happenings of the Week by Eraklis Diamataris

The National Herald’s Happenings of the Week (Jan 8 – Jan 15) as have been reported at the print and digital editions of TNH and presented by the TNH Editor Eraklis Diamataris.