Power investments in Greece

Greece’s government allocated 367.9 million euros ($477.7 million) to finance improvements to the country’s electricity and natural gas networks. Public Power Corp SA, Greece’s biggest electricity producer, and natural gas grid operator DESFA SA will carry out the works, which will also be funded by the two companies and the European Union, the Environment, Energy and Climate Change Ministry said in an e-mailed statement yesterday.
For the electricity network the estimated cost of the work is 583.3 million euros and includes plans to link the Cyclades Islands and decrease Greece’s dependence on oil, the ministry said. The total budget to install infrastructure to ensure the smooth operation of the natural gas system is 423.2 million euros, the statement said. 






(Bloomberg)