The Council of State, Greece’s Supreme Administrative Court, appears to have rejected a case filed by Euroasia Interconnector, a consortium of Cypriot interests, challenging the appointment of Greek power grid operator IPTO subsidiary Ariadne as project promoter of a grid interconnection to link Crete with Athens, energypress sources have informed.
Euroasia, heading a consortium formed for a wider PCI-status interconnection project to link the Greek, Cypriot and Israeli grids, is seeking control of the Crete-Athens segment’s development.
Legal experts believe Euroasia’s challenge will not succeed.
The Cypriot consortium’s Supreme Court move, which opposed the Ariadne subsidiary’s appointment by RAE, Greece’s Regulatory Authority for Energy, followed an unsuccessful legal attempt at the Authority for the Examination of Preliminary Appeals (AEPP).
The Supreme Court’s verdict is crucial as it will determine if ongoing tenders for the development of the Crete-Athens interconnection can continue or not.
Procedures concerning a tender for the project’s transmission stations are progressing and attracting the interest of major developers and suppliers. This tender’s deadline was extended by one month.
The energy ministry, in contact with the European Commission over the matter, has not written off the prospect of a settlement with Euroasia but insists the project’s swift development is the key criterion behind decisions.
Supplying the required capital for a minority stake in Ariadne appears to be the only available option for Euroasia at this stage. However, the Cypriot consortium does not appear willing to take such a route.
Time is running out. Greece has until October 31 to inform a European Commission committee handling the EU’s PCI list if the country will support the Crete-Athens interconnection as part of the wider PCI project or proceed with its development as a national project.