IPTO, the Greek transmission system operator (TSO), and Terna, the Italian national grid operator, signed a Memorandum of Understanding to lay a new submarine power cable between the two countries.
The high-voltage direct current (HVDC) link will be approximately 300 kilometres (km) long, with about 240 km running underwater at depths of up to 1,000 metres. It will have a transmission capacity of up to 1,000 megawatts (MW) and will complement the existing 500 MW link that has been in operation since 2002.
On the Italian side, the cable will come ashore near the town of Melendugno, while a new converter station will be built in Galatina, both located in the province of Lecce.
The three-year agreement sets up a joint governance structure to define the project strategy and coordinate actions. Terna and IPTO will also sign further agreements to jointly manage the tender processes to buy cables and converter stations, and carry out the infrastructure work.
The GRITA 2 project is already part of the European TSOs’ Ten-Year Network Development Plan 2024 and has been proposed for the second list of Projects of Common or Mutual Interest.
Terna and IPTO are investing around 1.9 billion euros in the project.
“The new energy corridor between Greece and Italy will not only expand the capacity for electricity exchange but also bolster energy security and enhance the efficiency of the integrated European electricity market, delivering tangible benefits to consumers in both nations,” said Manos Manousakis, Chairman and Chief Executive Officer of IPTO.
“The new submarine power link between Italy and Greece will enhance energy security in southern Italy and facilitate efficient energy procurement by enabling new resources and maintaining energy exchange between the two countries,” said Giuseppina Di Foggia, Chief Executive Officer and General Manager of Terna.