Wednesday October 22, 2014 Search
Weather | Athens
24o C
14o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
China slowly building Med power network

The European Commission has long wanted the continent’s power grids to work in unison for reasons of efficiency and supply security, so far to little avail, but a regional power network could soon be a reality, courtesy of State Grid Corporation of China.

While Europe’s utilities have met hostility to cross-border forays and been outbid by infrastructure funds, State Grid, the world’s largest utility by revenues, with its deep pockets and reputation for hands-off management, has had an easier ride, buying minority stakes in Portuguese and Italian grid operators and pursuing designs on Greece and Spain, too.

For wholly state-owned State Grid, which distributes electricity to 1.1 billion people across 90 percent of China, the appeal of the consistent, regulated income from European power assets is obvious.

“When we make overseas investment, we are not doing charity,” he said.

In 2012, State Grid bought 25 percent of Portuguese grid operator REN, then last month it entered Italy with a deal to buy 35 percent of CDP Reti for at least 2.1 billion euros.

CDP Reti owns 30 percent of gas transport group Snam and is set to receive a similar stake in Greek power grid Terna.

State Grid, with Terna and Belgium’s Elia, is also bidding for 66 percent of Greek grid operator ADMIE, sources told Reuters in May, and is interested in bidding for German utility E.ON’s northern Spanish grid.

“After the recent investments of SGCC in South Europe, there is indeed a strategic positioning within the region,” ADMIE CEO Yiannis Yiarentis told Reuters.

[Reuters]

ekathimerini.com , Monday August 11, 2014 (20:49)  
ECB cools speculation over bank health checks ahead of results
Greece´s NBG says Turkish unit to issue new shares
At least 11 banks to fail European stress tests, three in Greece, report says
Prudential holds on to shorter-maturity Greek bonds amid selloff
Ancient Greek well yields rare wooden statue
Archeologists in Greece have uncovered a rare wooden statue preserved in the muddy depths of an ancient well in Piraeus, the port of Athens. A Culture Ministry statement said Tuesday that th...
Turkey to continue seismic surveys, Davutoglu says
As Nicosia threatened to block Turkey's EU membership talks over a violation of its exclusive economic zone (EEZ) by a Turkish survey vessel, Turkish Prime Minister Ahmet Davutoglu announced...
Inside News
BASKETBALL
PAOK fans stop coach Markopoulos´s move to Olympiakos
Olympiakos is once again in the lookout for a new coach after the refusal of PAOK to release Soulis Markopoulos, while Panathinaikos defeated Kolossos on Rhodes on Monday to become the only ...
BASKETBALL
Reds lose to Nea Kifissia, search for new coach
Nea Kifissia recorded the biggest win of its short history in the top flight defeating Olympiakos 68-67 on Sunday, in a Basket League weekend marred by the abandonment of the Thessaloniki de...
Inside Sports
COMMENTARY
Careful what you wish for
Everyone is in a rush to become prime minister in this country, as if they have not learned a single thing from its political history. While still in opposition, PASOK’s George Papandreou ma...
EDITORIAL
Taking care of our key industry
It’s time to face facts: Tourism is the country’s heavy industry. The sector’s considerable contribution has served as a stabilizing factor for the local economy, essentially placing the cou...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. ECB cools speculation over bank health checks ahead of results
2. Ancient Greek well yields rare wooden statue
3. Turkey to continue seismic surveys, Davutoglu says
4. EU’s Juncker wins Commission-team approval with investment vow
5. Greece´s NBG says Turkish unit to issue new shares
6. At least 11 banks to fail European stress tests, three in Greece, report says
more news
Today
This Week
1. Cyprus to block Turkey's EU talks after EEZ violation
2. At least 11 banks to fail European stress tests, three in Greece, report says
3. Juncker’s EU commission team set for parliamentary green light
4. Taprantzis resigns from privatization agency TAIPED
5. EU’s Juncker wins Commission-team approval with investment vow
6. EU's Juncker pledges investment plan for jobs
Today
This Week
1. Possible third figure in Amphipolis mosaic may be uncovered shortly
2. Istanbul skyscraper casts shadow over Greece's banking ambitions
3. Coalition shooting itself in the foot
4. Greece must stick to reforms, says Schaeuble
5. GPO poll gives SYRIZA clear lead over New Democracy
6. Greece’s closed society is central to its current malaise
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.