Three suitors for Greek’s TSO

Greece, Athens: Two European companies and one from China have entered the race for a 24 percent stake in ADMIE, the Greek transmission system operator (TSO) that is up for privatization.

One more Chinese firm that submitted a bid in the tender is said to have been eliminated for not meeting the requirements.

The suitors that have been shortlisted ahead of an October 31 deadline for binding bids include Italy’s Terna, whose interest was taken for granted after its entry in the first tender for a 66 percent stake in ADMIE, and the recent contacts its officials had in Athens. There is also France’s RTE – the Electricite de France subsidiary that was not in the first tender but has been very active in the last few days – and Chinese giant State Grid Corporation of China (SGCC).

The Chinese firm had entered the first tender autonomously but its presence in this second tender came as a surprise since the law for the separation of ADMIE from Public Power Corporation was tailor-made for a European operator. However, the participation of SGCC in Portugal’s REN with a 25 percent stake granted it a passport to enter the ADMIE tender.

In contrast, the China Southern Power Grid was left out of the tender, according to sources.