A shortlist of second round qualifiers in a tender offering a 20 percent stake in Ariadne Interconnection, a subsidiary founded by power grid operator IPTO to specifically develop the Crete-Athens grid interconnection, will be decided on by RAAEY, the Regulatory Authority for Waste, Energy and Water, at a meeting on April 27.

A total of four participants entered the tender’s first round, these being Macquarie Super Core Infrastructure Fund & Phaethon Holdings; GEK-TERNA; Italy’s Terna SpA; and StateGrid International Development Belgium.

The regulatory authority will need to decide which of these entrants fulfil conditions and terms for qualification to the second round of this tender, staged by IPTO.

The operator has tasked RAAEY with this appraisal, the objective being to safeguard the overall procedure from any prospective legal challenges.

One of the matters being inspected by RAAEY is whether entrants active in electricity production can take part, as this could lead to conflict of interest.

Another is whether China’s SGCC, IPTO’s strategic partner with a 24 percent stake, is eligible to participate in this tender, through its Belgian subsidiary StateGrid International Development Belgium.

Work on the the Crete-Athens grid interconnection is in full progress, IPTO recently informed.