The Cyclades benefit from a more stable energy supply thanks to European funds
The opening of the new power station on the Greek island of Mykonos today marked an important step in the completion of the Cyclades' energy interconnection with the mainland. This follows the inauguration of the connection of the islands of Syros and Paros in March 2018 and the forthcoming connection of the islands of Naxos and Tinos. These interconnections, which are co-financed by the EU, will allow the islands to benefit from a more stable supply and energy that is more environmentally friendly.
The Commissioner for Regional Policy, Corina Creţu, explained: ‘I am delighted with the opening and would like to congratulate the Greek authorities on having successfully completed this project. Europe will continue to support the energy interconnection of the other islands in the Cyclades over the years to come; this is another example whereby the EU is supporting sustainable growth in Greece.’
The interconnection of the Cyclades Islands with the continental electricity grid has been co-financed by the EU since the 2007-2013 budgetary period. The EU's total contribution to the project is estimated at EUR 176 million. The benefits of this interconnection will be around EUR 80 million per year, which will be reflected in consumer bills.
The islands will move from producing electricity using obsolete diesel generators to electricity obtained from natural gas, which is a more environmentally friendly source of energy. The project is ongoing and, once completed, 13 of the Cyclades will be connected to the continental network.