Greek grid operator ADME raises €1 billion to fund major interconnections

The transmission system operator ADME completed a €1 billion capital increase in two phases, securing funds from the Greek state, the European Commission’s Recovery Fund and international investors such as Capital. The raise fully covered the book of offers and is intended to finance a €6 billion investment programme through 2029, focusing on three flagship projects: the Greece‑Italy interconnection, the North‑East Aegean link and the Dodecanese islands connection.

ADME’s chief executive Manos Manousakis said the capital raise marks a historic milestone and places the company on the radar of global investors. The operator also highlighted further cross‑border projects – the Great Sea Interconnector linking Greece, Cyprus and Israel, the GREGY line to Egypt, and a study on a Greece‑Saudi Arabia link – as well as digitalisation and network‑maintenance upgrades. A financing request to the European Investment Bank for up to 50 % of the €1.9 billion cost of the Greece‑Cyprus link is expected in June, with contracts for island projects slated for signing in 2026 and construction to start in 2027.