RTE of France, Terna of Italy and State Grid International Development of Hong Kong are through to a second round in Greece’s sale of a 24 per cent stake in Greek grid company ADMIE.

Platts reports that PPC subsidiary ADMIE owns 11,365 km (7,046 miles) of high voltage power network in Greece and must sell the stake to comply with the $96bn bailout between Greece and its creditors, brokered in July, 2015.
Grid graphic
It must also reduce its share in Greece’s electricity retail market from over 90 per cent now to 50 per cent by 2020.

The sale is not without opposition with unions opposing any transfer of ownership in the grid to a private strategic investor.

PPC also owns the country’s power distribution network, comprising 236,290 km of low and medium voltage lines, and 13 GW of lignite, natural gas, hydro and renewable generation capacity, accounting for 64 per cent of Greece’s total installed capacity.