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, is expected to be decided on by RAE, the Regulatory Authority for Energy, at a meeting today.

Participants approved by the authority will advance to the tender’s second round for binding bids.

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 needs 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 RAE with this appraisal, the objective being to safeguard the overall procedure from any prospective legal challenges. One of the matters being inspected by RAE 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 progress, IPTO recently informed.