BUSINESS

Three suitors for power grid operator

CHRYSSA LIAGGOU

TAGS: Energy, Privatizations

Two European companies and one from China have entered the race for a 24 percent stake in the Independent Power Transmission Operator (ADMIE) that is up for privatization, while one more Chinese firm that took part in the tender is said to have been eliminated for not meeting the requirements.

The suitors that have been shortlisted ahead of an October 31 deadline for binding bids include Italy’s Terna, whose interest was taken for granted after its entry in the first tender for a 66 percent stake in ADMIE, and the recent contacts its officials had in Athens. There is also France’s RTE – the Electricite de France subsidiary that was not in the first tender but has been very active in the last few days – and Chinese giant State Grid Corporation of China (SGCC).

The Chinese firm had entered the first tender autonomously but its presence in this second tender constituted a surprise as the law for the separation of ADMIE from Public Power Corporation was tailor-made for a European operator. However, the participation of SGCC in Portugal’s REN with a 25 percent stake granted it a passport to enter the ADMIE tender.

In contrast, the China Southern Power Grid was left out of the tender, according to sources.

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