Saturday, 23 September 2023 01:58 GMT

Interconnector Greece-Bulgaria Gets Final Payment From OPIC

(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.



Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.