On June 19, 2025, China's State Grid Corporation and Greece's Independent Power Transmission Operator (IPTO) completed the transfer of a 20% equity stake in the Crete Island HVDC Interconnection Project Company in Athens. This marks another milestone in China-Greece energy cooperation following State Grid's initial investment in Greece's national grid in 2017.

Strategic Investment Opens New Chapter
Greek Secretary General for Energy and Mineral Resources Aristotelis Aivaliotis stated that the project is hailed as "a flagship project for stabilizing Greece's power system," and the participation of Chinese enterprises has strengthened Greece's confidence in its own energy construction capabilities. This cooperation not only demonstrates the international competitiveness of China's power grid companies but also signifies the continued deepening of the comprehensive strategic partnership between China and Greece in the energy sector.

Technologically Advanced Benchmark Project
The Crete Island HVDC Interconnection Project employs the world-leading ±500 kV flexible DC transmission technology, with a 335-kilometer submarine cable and a transmission capacity of 1,000 MW, making it one of the most technologically advanced and highest-capacity island interconnection projects globally. This project will tightly connect Greece's largest island, Crete, to the European mainland grid, not only resolving the island's long-standing power supply instability issues but also providing critical infrastructure support for Greece's ambition to become an energy hub in Southeast Europe. Chinese Ambassador to Greece Fang Qiang noted that the Chinese technological solutions used in the project fully showcase China's global leadership in ultra-high-voltage transmission.

A Win-Win Model for Green Development
Once operational, the project will significantly enhance Crete's renewable energy integration capacity, with an estimated 30% increase in clean energy absorption, helping Greece achieve its low-carbon transition goals under the "Greece 2.0" national recovery plan. At the same time, it serves as a vivid example of the alignment between the Belt and Road Initiative and the EU Green Deal. According to statistics, the project created over 2,000 local jobs during construction and boosted the upgrading of Greece's related industrial chains. State Grid's involvement has not only brought capital and technology but has also cultivated a large number of Greek power professionals through localized operations, setting a new benchmark for mutually beneficial energy cooperation between the two countries. With the project now in trial operation, China-Greece energy collaboration is moving toward an even broader future.(This article is from the official website of Seetao www.seetao.com. Reprinting without permission is strictly prohibited. Please indicate Seetao.com + original link when reprinting) Seetao.com Strategy Column Editor/Sun Fengjuan