Cenergy: subsidiary Fulgor wins €1.5 billion contract to connect Kos

A 1,260 km submarine cable interconnection between Corinth and Kos

The contract was signed by Fulgor S.A., a wholly owned subsidiary of Hellenic Cables, with the Independent Power Transmission Operator (IPTO), Greece's independent electricity transmission operator. It covers the engineering, procurement, construction and installation (EPCI) of the HVDC link.

The project comprises approximately 1,260 km of submarine cables and 30 km of underground cables. Fulgor will carry out the complete project, from one converter station to the other, and will manufacture the HVDC electrical cables at its factories in Corinth and Thiva, Greece.

Start expected in the fourth quarter of 2026, delivery planned for 2030

The total value of the contract amounts to approximately €1.5 billion. The project is due to begin in the fourth quarter of 2026, with completion scheduled for 2030.

The timetable provides for completion of the project in 2030, after several years of execution, with cable manufacturing concentrated at the group's two Greek sites.

A 1 GW capacity intended to replace fuel oil power plants

According to Cenergy Holdings, the link will offer a total transmission capacity of 1 GW. It is expected to enable the gradual shutdown of fuel oil-fired power plants, which the group describes as costly and highly carbon-emitting, while enhancing the security and reliability of electricity supply.

Alexis Alexiou, Chief Executive Officer of Cenergy Holdings, stated: “The signing of this landmark contract marks an important milestone in the development of Greece's electricity transmission infrastructure.” He added that the group intends to “carry out this important project in a safe and reliable manner.”