Iberdrola awarded 16% of capacity on Italy-Greece electricity interconnection

Jul 9, 2008 - Datamonitor

Spanish energy major Iberdrola has been awarded 16% of the capacity of the electricity interconnection between Italy and Greece put out to tender by the operator Terna for July 2008. This will enable Iberdrola to transmit more than 29,750MWh through the Italy-Greece underwater cable.

This reportedly represents a major milestone achieved by Iberdrola in order to consolidate its presence in the liberalized Greek market, in which it began to operate in April 2008 after obtaining all the necessary licenses.

Iberdrola finalized its first trading operation in Greece in March 2008, with the sale of energy from Italy through the same underwater link for 500MW in capacity.

Iberdrola has reportedly transmitted more than 18,000MWh between Italy and Greece during the last three months. To develop these operations, the Spanish company has taken advantage of the knowledge it acquired in the Italian market, where it has carried out trading activities since 2005.