Manousakis (ADMIE): Focus on investments aimed at protecting critical infrastructure from potential external threats

ADMIE’s Chairman and Chief Executive Officer, Manos Manousakis, described the transmission operator’s planned 1.0-billion-euro share capital increase as a “historic milestone” during the 7th OT Forum.

He said the new funds would enable the acceleration of major domestic island interconnection projects in the Dodecanese and the North Aegean, as well as the development of a second electricity interconnection between Greece and Italy.

“We regard it as a strong vote of confidence that the Greek state is participating in a capital increase of a company it controls. Even more so when these funds come from the Recovery and Resilience Facility, given the highly demanding absorption criteria set by our European partners. This demonstrates their trust in ADMIE,” Manousakis said.

He also referred to progress in the tender process for the submarine cable component of the Corinth-Kos electricity interconnection, noting that the technical bid submission phase has been completed.

According to Manousakis, the evaluation process is already underway by the operator’s competent committee, paving the way for a project that is a prerequisite for the broader interconnection of the Dodecanese islands with Greece’s mainland power system.

Addressing the critical role of electricity networks in the European Union’s energy security and economic development, he said the EU’s forthcoming Grids Package is expected to be enacted by the end of the year, providing for investments of around 1 trillion euros across Europe to strengthen cross-border interconnectivity.

He noted that the war in Ukraine and the conflict involving Iran have highlighted the vulnerability of energy networks. These developments, he said, are forcing policymakers and operators “for the first time to focus on resilience investments aimed at protecting critical infrastructure from potential external threats.”

Against this backdrop, he pointed to the recent establishment of a General Secretariat for Critical Infrastructure, tasked with planning the investments required to safeguard Greece’s electricity system.

Manousakis also stressed the need for government support in streamlining procedures to accelerate grid development projects, which often face delays and opposition from local communities.

“We are seeking social consensus so that network expansion can proceed, the green transition can advance, and energy security can be strengthened,” he said.

On renewable energy, Manousakis argued that Greece has become an international success story in renewable energy penetration, noting that national targets set for 2030 have already been achieved.

He added that the next priority is the development of energy storage capacity.

“Because we currently have excess renewable generation, this electricity is exported. However, it could instead be stored and used to reduce reliance on more expensive fossil fuel-based generation during evening hours,” he said.

Finally, he noted that the leadership of the Ministry of Environment and Energy is intensively preparing the regulatory framework needed to accelerate the deployment of energy storage projects, expressing confidence that the sector “will become the next success story.”