Hellenic Cables awarded Lot A of IPTO framework agreement for Greek island interconnections
PRESS RELEASE
Brussels, June 25, 2026
Cenergy Holdings announces that Hellenic Cables, its cables segment, was awarded, through its wholly owned subsidiary, Fulgor S.A., a framework agreement by the Greek Independent Power Transmission Operator (IPTO) for Lot A of the electrical interconnection of the Dodecanese and North Aegean islands in Greece of a total value ca. EUR 1.15billion.
Under the agreement, Hellenic Cables S.A. will undertake the Engineering, Procurement, Construction and Installation (EPCI) of four (4) interconnections, namely Thraki–Limnos, Kos–Rodos, Lesvos–Limnos and Lesvos–Chios, with total length of approx. 694km of 150kV AC submarine cables and 227km of 150kV AC underground cables. Production is expected to commence in 2027, with project completion expected until 2031.
The awarded interconnection forms part of IPTO’s strategic program to strengthen the integration of the Greek islands into the national transmission system and support the country’s energy infrastructure. The Dodecanese and North Aegean power interconnection is critical to the stability of the Greek power system because it addresses the fragmentation of isolated island grids by integrating them into the mainland network. This significantly enhances reliability and security of supply, while strengthening the system’s ability to balance demand with renewable generation across the country.
The submarine cables will be manufactured at the state-of-the-art manufacturing plant of Hellenic Cables in Corinth, Greece, while the underground ones will be manufactured at the company’s plant in Thiva, Greece. Following recent investments, both facilities operate at expanded capacity, further strengthening Hellenic Cables’ ability to support large-scale transmission interconnection projects.
The signing of the framework agreement is subject to customary statutory conditions and approvals, and its execution is conditional upon the issuance of a notice to proceed by the customer.
Alexis Alexiou, CEO of Cenergy Holdings, stated: “This project reflects the trust placed in Hellenic Cables' ability to deliver complex and strategically important transmission projects. The interconnection of Greece's islands is a key component of the country's energy infrastructure and enhances energy security and network resilience. We are proud to contribute to this effort through our advanced manufacturing capabilities and proven project execution expertise.”
About Cenergy Holdings
Cenergy Holdings is a Belgian holding company listed on Euronext Brussels and Euronext Athens. It invests in leading industrial companies, focusing on the growing global demand of energy transfer, renewables and data transmission. Cenergy Holdings’ portfolio consists of Corinth Pipeworks and Hellenic Cables, two companies at the forefront of their respective high growth sectors. Hellenic Cables is one of the Europe’s largest cable manufacturers, producing power, telecom and submarine cables. Corinth Pipeworks is a global leader in the manufacture of steel pipes for the energy sector and a major producer of steel hollow sections for the construction industry. For more information, please visit our website at www.cenergyholdings.com.