The European Investment Bank (EIB) has approved a €490 million financing plan to support a grid interconnection project aimed at ending the electricity isolation of islands in the northeastern Aegean Sea of Greece. The decision was made on December 12, 2025.

The project, to be implemented by Greece's Independent Power Transmission Operator, plans to connect the islands of Lemnos, Lesvos, Chios, Samos, and Skyros to the mainland Greek transmission network via newly constructed submarine cable lines. Simultaneously, the project will also link these islands to the grid of the Dodecanese islands through a southern Kos node. The primary interconnection technology solution involves 150kV AC cables and accompanying gas-insulated substations.

The European Investment Bank stated that this power connection project will end the long-term reliance of the concerned islands on local oil-fired power generation, providing them with more efficient, reliable, and cleaner electricity supply. The project is expected to enhance regional power supply security, improve the capacity to integrate renewable energy, and promote local economic development through improved infrastructure.