Prysmian lands €910 million job for Greek island grid interconnections

June 23, 2026, by Nadja Skopljak

Italy’s Prysmian has secured a framework agreement with Greek electricity grid operator Independent Power Transmission Operator (IPTO) valued at around €910 million for the development of electrical interconnections for the Dodecanese and North Aegean islands in Greece.

Prysmian will design, manufacture and install submarine and land-based cables for “Lot B” comprising seven projects totaling over 900 kilometers of high-voltage alternating current (HVAC) cables, with final delivery expected in 2033.

Reaching water depths of up to 1,150 meters, the Italian company said it would set a new record depth for static three-core HVAC cables.

The signing of the agreement is subject to customary statutory conditions and regulatory clearances, and its execution is conditional upon the issuance of a notice to proceed by the customer.

“This is a step-forward for Greece. We know from our prior experience in the country just how essential and welcomed upgraded electrical infrastructure is for residents in island communities,” said Raul Gil, EVP Transmission at Prysmian.

“We will utilise our assets – from design, manufacturing, surveying and installation, including our flagship deep-water vessels – to deliver these vital upgrades, and we are excited to see the positive impact of our hard work for the thousands of residents and visitors to these islands in the very-near future.”

Prysmian previously worked with IPTO to deliver several projects, including the Cyclades Islands interconnections (Evia, Andros and Tinos, and Syros-Lavrio), the Crete-Attica and the Crete-Peloponnese, where the company set the previous record depth in the HVAC field, installing cables at approximately 960 meters under the sea.