All four bidders for the purchase of a 20% stake in Ariadne Interconnector have qualified for the second binding round following the Greek Regulatory Authority for Energy (RAE) approval.
Ariadne Interconnector is a subsidiary of Greek electricity transmission system operator ADMIE, established for the development of electricity interconnection between mainland Greece and the island of Crete. The tender was launched in August 2022.
ADMIE plans to complete the interconnection by the end of 2024.
The four second-round qualifiers are construction group GEK-Terna, a consortium consisting of Macquarie Super Core Infrastructure Fund and Phaethon Holdings (Copelouzos group), Italian electricity transmission system operator Terna and StateGrid International Development Belgium, a subsidiary of Chinese SGCC.
In late 2020, ADMIE set a minimal sale price of 40 million euros or 20% of Ariadne’s nominal value of 200 million euros.
The Athens-Crete electricity interconnection is urgently needed as electricity demand on the island is increasing. At the same time, high-polluting oil-fired units currently operating on Crete will soon need to be withdrawn as part of the EU’s environmental policy.
