Government sources on Friday referred to meetings in Beijing on the same day between a top Greek delegation and officials of the China State Grid Corp., the state-run company that has emerged as a strategic investor for Greece’s Independent Power Transmission Operator (ADMIE) S.A.
Government sources on Friday referred to meetings in Beijing on the same day between a top Greek delegation and officials of the China State Grid Corp., the state-run company that has emerged as a strategic investor for Greece’s Independent Power Transmission Operator (ADMIE) S.A.
Removing state control over the power grid operator, in tandem with reducing state-run power company’s (PPC) dominating share of the retail market – via the privatization of several production units – to the level of its electricity production, remains a “prior action” demanded by creditors and the EU Commission’s regulatory arm.
Greek Prime Minister Alexis Tsipras, heading up a high-level government delegation, arrived in Chinese capital on Friday to participate in a “Belt & Road” forum that has attracted several international leaders.
According to the “unofficial” information circulated by the Greek government, the course of the ADMIE privatization was discussed with the Chinese company’s leadership.
At the same time, other energy-related projects in Greece were discussed, such as renewable energy sources in the wind-swept and sun-kissed east Mediterranean country.
The same reports also cited the long-coveted linking of Greece’s numerous islands with the mainland grid, a plan that has been in the works for decades but has never gotten off the “drawing board”.
Finally, the same sources said the EuroAsia Interconnector project was discussed.
In a related development, the Commission on Thursday announced that it was approving State Grid's purchase of 24 percent of ADMIE's shares, a development that satisfied the Greek side a day before Tsipras departed for China.
The EU executive's Directorate-General for Competition said the prospective purchase will not impair competition.
China State Grid last year agreed to purchase the stake for 320 million euros.
State Grid has been eager to invest in renewable energy in Greece and the power connections for its many islands, a Greek government official said on Friday.
According to Reuters, State Grid views ADMIE as precursor to the 1.5 billion-euro EuroAsia Interconnector project linking the power transmission systems of Israel, Cyprus and Greece via Crete through underwater cables, a Greek official said.
Trilateral cooperation between Greece, Israel and Cyprus in the energy sector has emerged as a strategic policy over recent years.