In accordance with Community Directive 2001/77/EC of 27.9.2001, a goal was set for Greece to achieve a 20.1% share of electricity produced from renewable energy sources (RES) in the total national electricity consumption by 2010. The said goal corresponds to approximately 3000 MW of RES plants (2500 MW of them coming from wind farms) compared to the current total of 320 MW of RES.
Undoubtedly, one can see from the above that new potential is created for the development of renewable energy sources in our country, and the Aegean Sea can play a major role in that as it is rich in wind energy.
HELLENIC CABLES intends to take part in large development projects in Greece, and more specifically in projects that are being scheduled or have been announced with regard to wind farms to be set up on the islands of the Aegean Sea, as well as in the wider area.
These include the setting up of submerged interconnections between the islands, as well as with continental Greece. More specifically, a submarine cable connection will be set up between Syros and the energy center of Lavrion, and Andros as a backup, as well as cable as cable connections between Syros and Paros, Naxos, Myconos and Tinos respectively. The development of the Cyclades interconnection is aimed, on the one hand, at ensuring the safe supply to the islands and, on the other hand, at the reduction in fuel costs and pollution caused by the ever-increasing energy supply to such islands form the Continental System.
HELLENIC CABLES has decided to make an investment and set up a production plant for the manufacture of medium and high voltage submarine cables, and to that end it has prepared an investment plan which will be submitted to competent authorities within the framework of the Law on Development No. 3299/2004. The amount of the investment is estimated to reach approximately EURO 20 million, which will be spent on the erection of a building and the purchase of mechanical equipment.
Within the framework of the above decision, our company has already expanded its know-how transfer agreement with the Japanese high-tech company FURUKAWA ELECTRIC from High and Ultra High Voltage land cables of up to 400kV, to submarine Medium and High Voltage cables of up to 150kV.