The Cyclades Interconnection Project - a project of significant importance for the country's energy strategy – has been designed to offer security and reliability of energy supply on the islands of Tinos, Paros, Mykonos and Naxos, and to improve the quality of supplied energy.

The contracts for the construction of the first phase of the project were signed on September 10 in Athens, involving the interconnection with the mainland electricity system. The first phase of interconnection with the mainland electricity system includes the islands of Tinos, Paros and Mykonos, and is scheduled to be finished at the end of 2016.

The project is expected to be completed with the interconnection of Naxos, in 2019. The savings from the reduction of the electricity cost are estimated to reach €100 million per year. With the eventual inclusion of Crete in the project, cost reduction may exceed €500 million per year. The budget of the investment totals €240 million euros.