(MENAFN- AzerNews) The ICGB, operator of the Interconnector Greece-Bulgaria (IGB),
has received the final payment under Innovation and Competitiveness
(OPIC) for construction, Azernews reports.
ICGB, the independent transmission operator, has received final
payment approval for the implementation of the Greece-Bulgaria
interconnector from the grant funding provided by the Operational
Program Innovation and Competitiveness. The total funding allocated
under OPIC amounts to €39 million, which is disbursed in stages
after rigorous inspections to ensure the quality and successful
completion of the project.
ICGB's Executive Officers, Teodora Georgieva and George Satlas,
announced that the latest tranche of €1,742,569 has been fully
utilized, marking the completion of the funding process under OPIC.
The total budget for the project implementation is €253 million,
which is secured through funds from shareholders BEH and IGI
Poseidon, a €109.9 million long-term loan from the European
Investment Bank (EIB), a grant of €45 million from the European
Energy Programme for Recovery (EEPR), and the €39 million from
OPIC.
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