Brussels, 09/12/2008 (Agence Europe) - The European Investment Bank (EIB) recently provided a total of €310 million for energy security and efficiency in Greece and Cyprus.
A total of €280 million went to the Greek Public Power Corporation (PPC), with €140 million going to the new Aliveri natural-gas fired combined cycle power plant on the island of Evia, and €140 million to the extension and reinforcement of the Greek transmission and distribution networks, covering the whole range from high voltage of 400kV down to low voltage. A further €30 million went to the Electricity Authority of Cyprus for a new internal combustion engine power plant at the Dekeleia power station in the district of Larnaca. Initially powered with heavy fuel oil, the plant can be retrofitted to natural gas, once this becomes available in Cyprus. Electricity demand in Cyprus is rising and plants of this type provide a rapid response to load changes, which makes them suitable for generation of electricity during peak demand. This will help meet demand changes in particular during the summer months, when cooling and electricity needs are highest. (O.L./transl.rt)