Editorial & Advertiser disclosure

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Finance

Posted By Global Banking and Finance Review

Posted on January 21, 2025

IPTO asks Fulgor, Nexans, Prysmian to bid for undersea power links in Greece

ATHENS (Reuters) - Greece's power grid operator IPTO has invited Fulgor, Nexans Norway and Prysmian Powerlink to submit binding bids for the supply of undersea cables to link some Greek islands to the mainland grid, it said on Tuesday.

The contract, with an initial estimated cost of 1.7 billion euros ($1.76 billion), will be awarded based on the best financial offer, the operator said in a statement.

The winner will have to build cables that will supply power to the Aegean islands of Kos, Rhodes, Karpathos, Lemnos, Lesbos, Skyros, Chios and Samos, the statement added.

IPTO plans to spend hundreds of millions of euros in power links to many Greek islands, some of which still rely on costly and polluting oil-fired power plants and struggle to match demand during the peak summer tourist season.

($1 = 0.9664 euros)

(Reporting by Angeliki Koutantou; Editing by Bernadette Baum)

Recommended for you

  • Trump's return to the White House: Market winners and losers

  • German carmakers say Trump tariffs would hurt US consumers, industry

  • Greenpeace activists slip through Davos security to stage climate protest