Greek power grid operator IPTO is eyeing the Balkan market to reinforce its standing, and, in this context, endeavoring to acquire a stake in MEPSO, North Macedonia’s operator.

If an agreement does go ahead, a prospect that requires the active involvement of the Greek government, then the neighboring country could serve as a gateway for IPTO’s entry into the wider western Balkan region, to take on network upgrade and interconnection projects, definitely needed.

IPTO has already submitted an offer for a stake in MEPSO, either through a strategic agreement or a share capital increase, North Macedonian sources informed.

IPTO executives have, for quite some time now, been engaged in talks with North Macedonian government officials, MEPSO and the country’s regulatory authority covering energy for a stake in the operator, the sources added.

Besides strengthening IPTO’s standing, such a move – which would complement Greek power utility PPC’s takeover agreement for Italian group ENEL’s Romanian subsidiary ENEL Romania – promises to also bolster Greece’s geopolitical role in the Balkan region.

MEPSO also stands to benefit from an agreement with IPTO as the North Macedonian operator could make the most of the Greek operator’s stronger credit rating and gain access to EU funds for network upgrades.