TERNA SpA

Ariadne Interconnection tender 2nd round starting next week

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The second round of a tender offering a 20 percent stake in Ariadne Interconnection, a subsidiary founded by power grid operator IPTO to develop the Crete-Athens grid interconnection, will get underway next week with the opening of a Virtual Data Room for participants, energypress sources have informed.

All four first-round entrants have qualified for the procedure’s next stage following approval by RAAEY, the Regulatory Authority for Energy, Environment, and Water. They are GEK-TERNA; a partnership involving Macquarie Super Core Infrastructure Fund and Phaethon Holdings (Copelouzos group); Italian operator Terna SpA; and StateGrid International Development Belgium.

The VDR will include all required information – including a shareholders’ agreement and business plan – needed by the bidders to shape their second-round binding offers, which, according to the energypress sources, will face an end-of-2023 deadline.

IPTO tasked RAAEY with the responsibility of approving the tender’s second-round qualifiers in order to offer maximum protect to the procedure and avoid any legal ordeals.

Issues checked by the authority before approving the suitability of suitors included whether investors with stakes in any domestic power producer are eligible to enter Ariadne Interconnection, the concern here being conflict of interest.

RAAEY also examined whether China’s SGCC could participate through its StateGrid International Development Belgium subsidiary, as the Chinese company holds a 24 percent stake in IPTO.

 

All 4 bidders seeking Ariadne Interconnection 20% advance

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All four first-round entrants 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, have qualified for the procedure’s next stage following approval by RAE, the Regulatory Authority for Energy.

GEK-TERNA; a partnership involving Macquarie Super Core Infrastructure Fund and Phaethon Holdings (Copelouzos group); Italian operator Terna SpA; and StateGrid International Development Belgium are the four entrants advancing to the tender’s second round.

IPTO tasked RAE with an appraisal of the tender’s first-round entrants to safeguard the overall procedure from any prospective legal challenges.

One matter inspected by RAE was whether participation by entrants active in electricity production could lead to conflict of interest.

The authority also decided that 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.

RAE deciding on Ariadne Interconnection 20% stake shortlist

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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.

Ariadne Interconnection qualifiers for 20% stake soon

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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.

Southeast Europe network coordination center working on launch

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The Southeast Electricity Network Coordination Center (SEleNe CC), established in Thessaloniki to support regional network security in southeast Europe, is currently recruiting personnel and installing technical equipment required for its operations.

All necessary equipment is expected to be installed at the center’s Thessaloniki headquarters by the end of September, energypress sources have informed. The objective is to have prepared the center as a fully operational unit by the end of the year.

The new regional center was established following years of efforts by the power grid operators of Greece (IPTO), Italy (TERNA SpA), Romania (Transelectrica), and Bulgaria (ESO-EAD), each holding equal shares.

It is managed by a four-member board comprising Ioannis Kabouris (IPTO), the chief executive, and three members, Angelin Tsachev (ESO-EAD), Enrico Maria Carlini (TERNA SpA), and Adrian Suta (Transelectrica).

The coupling of respective markets, expected soon, will represent a next step in the region’s harmonization and incorporation into Europe’s unified electricity market, promising major benefits for consumers, Kabouris, the chief executive, has noted.