The European Investment Bank (EIB) has approved a €490 million financing for an interconnection project that will end the electrical isolation of Greek islands located in the Northeast Aegean Sea.
The IPTO North East Aegean Interconnection project will connect the island regions of Lemnos, Lesvos, Chios, Samos and Skyros to Greece’s mainland transmission grid through Nea Santa in Thrace to the north and Aliveri on Evia to the east.
It will also link the islands to the Dodecanese islands grid via Mastichari on Kos to the south. The connection will primarily use 150 kV alternating current (AC) cable interconnectors and 150 kV gas-insulated substations (GIS).
The €490 million financing was approved on December 12, 2025.
According to EIB, the project will end the electrical isolation of the islands concerned and provide a more efficient, reliable and cleaner electricity supply compared to the current reliance on local diesel or heavy fuel oil power stations. It will also improve security of supply, increase capacity for connecting renewable energy sources in the region, and foster economic development, particularly through tourism.