ECONOMY

Siemens and Terna land converter deal

siemens-and-terna-land-converter-deal

The Siemens-Terna consortium has beaten that of Nari, General Electric and Mytilineos to the tender announced by the Independent Power Transmission Operator (ADMIE) for the converter stations to be installed at the power interconnection between Crete and Attica.

After about four months of detailed inspection and assessment of the technical standards of the proposed converter equipment by global leaders in the sector, ADMIE has decided in favor of Siemens’ technology and signed the necessary documents. In the next few days ADMIE’s management will begin negotiations with Siemens over the improvement of the project’s budget, currently amounting to 380 million euros.

The technical valuation of the bids was the hardest part of the tender process, as ADMIE had to assess the technical features that will apply for the first time at such a great depth, and procure the optimum technological equipment for the emblematic and long-overdue Crete-Attica interconnection – a project expected to require funds totaling 1 billion euros.