ANNOUNCEMENT
PPC S.A. announces that:
· The approval of the Environmental Impact Study for the Cyclades Interconnection was completed last week with the issuance of the relevant Common Ministerial Decision
· The Board of Directors, during its meeting on September 22nd, approved the initiation of the tendering procedures for the selection of the contractor for the construction of the Cyclades Interconnection and decided to invite RAE and HTSO to participate in the design and selection of technologies which will be included in the initial tender documents.
The Cyclades Interconnection Project, with a budget of €350 million, aims at:
· The security and reliability of the energy supply in the islands of Syros, Paros, Naxos and Mykonos
· The improvement of the quality of the supplied energy
· The improvement of the environmental conditions in the islands due to the decommissioning or placement in cold reserve of the autonomous power stations
· The possibility of future exploitation of the geothermal fields in Milos as well as energy generated by wind farms.
Athens 23-9-2009